IRS Releases 2011 HSA Plan Limits - No Changes from 2010

5/24/2010

The IRS released Revenue Procedure 2010-22 that provides the 2011 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under Section 223 of the Internal Revenue Code.

The amounts for 2011 are unchanged from the amounts for 2010 because, after the application of the cost-of-living adjustment rules of Section 223(g) (including the rounding rule of Section 223(g)(2)), the changes in the Consumer Price Index for the relevant period do not result in changes to the amounts for 2011.

Annual contribution limitation
For calendar year 2011, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,050. For calendar year 2011, the annual limitation on deductions for an individual with family coverage under a high deductible health plan is $6,150.

High deductible health plan
For calendar year 2011, a "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,200 for self-only coverage or $2,400 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $5,950 for self-only coverage or $11,900 for family coverage.

Categories: HSA