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H&W: IRS Releases 2014 HSA Contribution Limits

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By Compliance Dashboard
 on May 7, 2013
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2014 HSA Contribution LimitsIRS Releases 2014 HSA Contribution Limits: The IRS has releasedย Revenue Procedure 2013-25, which provides the 2014 cost-of-living contribution and coverage adjustments for HSAs. The new limits for calendar year 2014 are as follows:

HSAย Annual Contribution Limitation

Self-Only Coverage: $3,300ย โ€“ up from $3,250 in 2013

Family Coverage: $6,550ย โ€“ up from $6,450 in 2013

Catch-up Contribution: $1,000ย โ€“ unchanged from 2013

HSA contributions can only be made by individuals enrolled in a high deductible health plan.

For calendar year 2014, aย high deductible health planย is defined as a health plan with:

Minimum Annual Deductible

Self Only Coverage: $1,250ย โ€“ unchanged from 2013

Family Coverage: $2,500ย โ€“ unchanged from 2013

Maximum Annual Out-of-Pocket Expenses

Self-Only Coverage: $6,350ย โ€“ up from $6,250 in 2013

Family Coverage: $12,700ย โ€“ up from $12,500 in 2013