IRS Releases New 2015 Limit for HSAs
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The IRS announced higher limits for 2015 on contributions to Health Savings Accounts (HSAs) and out-of-pocket spending under high-deductible health plans (HDHPs) linked to them.
An HSA is a tax-favored savings account that is used in conjunction with a high-deductible HSA-compatible health plan to make healthcare more affordable. HSAs allow participants to pay for qualified medical expenses with pre-tax dollars.
In theRevenue Procedure 2014-30, issued April 24, 2014, the IRS provided the inflation-adjusted HSA contribution and HDHP minimum deductible and out-of-pocket limits, effective for calendar year 2015.
The higher rates reflect a cost-of-living adjustment and rounding rules under Internal Revenue Code Section 223.
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Contribution and Out-of-Pocket Limits for HSA and High Deductible Health Plans
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For 2015
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For 2014
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HSA Contribution Limit (employer + employee)
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Individual: $3,350
Family: $6,650
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Individual: $3,300
Family: $6,550
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HDHP minimum deductibles
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Individual: $1,300
Family: $2,600
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Individual: $1,250
Family: $2,500
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HDHP maximum out-of-pocket amounts
(ded, copays, but not premiums)
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Individual: $6,450
Family: $12,900
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Individual: $6,350
Family: $12,700
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Information brought to you by:
DRA
Employee Benefits Dept.
T: 510.465.3090
License# 0020739
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice.
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