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Benefits

Inflation adjustment raises IRS-allowed Health Savings Plan account limits

The IRS has released the 2014 inflation-adjusted amounts for health savings accounts (HSAs) in Rev. Proc. 2013-25.

May. 05, 2013

ConnectYourCare has stated that the IRS has released the 2014 inflation-adjusted amounts for health savings accounts (HSAs) in Rev. Proc. 2013-25. The company’ consumer-directed healthcare benefit delivery platform is geared toward providing businesses with account-based health plans for t heir employees.

For 2014, HSA contribution limits and high deductible health plan (HDHP) out-of-pocket maximums are up slightly over 2013, while HDHP minimum required deductibles remain the same as 2013.

  • Annual Contribution Limits: $3,300 for self-only coverage and $6,550 for family coverage. (Up from 2013 contribution limits of $3,250 for self-only coverage and $6,450 for family coverage.)
  • HDHP Minimum Annual Deductible: $1,250 for self-only coverage and $2,500 for family coverage. (No change from 2013 limits)
  • HDHP Out-of-Pocket Maximum (deductibles, copayments, and other amounts, but not premiums): $6,350 for self-only coverage and $12,700 for family coverage. (This is up from 2013 limits of $6,250 for self-only coverage and $12,500for family coverage.)