New HSA limits for 2013 Announced

The Internal Revenue Service (IRS) recently issued the 2013 limits for health savings account (HSA) contributions, deductibles, and out-of-pocket limits. 

• The annual HSA contribution limit for individuals with self-only coverage is $3,250, and $6,450 for individuals with family coverage. (2012 limit is $3,100 and $6,250)

 

• Qualified "high deductible health plans" must have an annual deductible that is not less than $1,250 for self-only coverage or $2,500 for family coverage, (2012 limit is $1,200 and $2,400) and annual out-of-pocket expenses may not exceed $6,250 for self-only coverage or $12,500 for family coverage.(2012 limit is $6050 and $12,100)