The IRS controls HSA deductible contribution amounts
The IRS issued 2009 HSA contribution limits and minimum plans:
Contributions:
- $3,000 for self-only coverage
- $5,950 for family coverage
For Clients who are 55 and older they are allowed a catch up provision of: $1000.
Minimum High Deductible Health Plan deductibles:
- $1,150 self-only
- $2,300 family
And, after retirement, any remaining HSA savings can be used for Medicare supplement premiums, long term care premiums, Medicare Part D premiums, or other needs with no tax penalty.
An HSA (Health Savings Account) works with a higher deductible major medical insurance plan. Learn more about HSA health insurance plans.
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