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IRS Releases Health Savings Account Contribution Limits and High Deductible Health Plan (HDHP) Requirements for 2009
HSA Contribution Amounts and HDHP Requirements for 2009
On May 13, 2008, the IRS released new Health Savings Account (HSA) contribution amounts and High Deductilbe Health Plan (HDHP) requirements for 2009 (Rev. Proc. 2008-29).
Effective January 1, 2009, the following changes will take effect:
- The maximum HSA contribution amount for self-only HDHP coverage will increase to $3,000 (up from $2,900 for 2008) and the maximum contribution for family HDHP coverage will increase to $5,950 (up from $5.800 for 2008).
- The HSA catch-up contribution for those 55 years of age and older will increase to $1,000 (up from $900 for 2008).
- The required minimum annual deductible for self-only HDHP coverage will increase to $1,150 (up from $1,100 for 2008) and the required deductible for family coverage will increase to $2,300 (up from $2,200 for 2008).
- The maximum out-of-pocket expense amount for self-only HDHP coverage will increase to $5,800 (up from $5,600 for 2008) and the family out-of-pocket maximum will increase to $11,600 (up from $11,200 for 2008).