The IRS announced that the contribution limit for an individual would increase by $50 in 2012, from $3,050 to $3,100. The family contribution limit is increasing from $6,150 to $6,250 (+$100).
The annual catch up amount for individuals over the age of 55 and who are not enrolled in Medicare is $1,000 per person on the plan. However, if the person who is making the catch up contribution is not the primary subscriber on the plan he or she will need to open a separate HSA account to hold the funds. For more information on this please see U.S. Department of the Treasury HSA FAQ.
The maximum annual out-of-pocket increased as well. The individual out of pocket maximum is going from $5,950 to $6,050. The family out of pocket maximum is increasing from $11,900 to $12,100.
The minimum deductible on an HSA qualified plan remained the same, $1,200 for individuals and $2,400 for families.
|
Item |
2011 Limit |
2012 Limit |
|
Health Savings Accounts |
||
|
Annual contribution limit - Individual |
$3,050 |
$3,100 |
|
Annual contribution limit - Family |
6,150 |
6,250 |
|
Annual catch-up contribution limit (age 55 to 65) |
1,000 |
1,000 |
|
Minimum deductible for HDHP - Individual |
1,200 |
1,200 |
|
Minimum deductible for HDHP - Family |
2,400 |
2,400 |
|
Maximum out-of-pocket for HDHP - Individual |
6,050 |
6,050 |
|
Maximum out-of-pocket for HDHP - Family |
12,100 |
12,100 |