IRS Releases 2010 Limits on Deductible Contributions to HSAs

The Internal Revenue Service (IRS) has published inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for the 2010 year. The chart below compares 2009 and the new 2010 figures.

*For the 2010 calendar year, an HDHP is defined as a health care plan with an annual deductible that is not less than $1,200 for self-only coverage or $2,400 for family coverage (compared to $1,150 and $2,300 respectively for the 2009 plan year).

The annual catch-up amount for HSA eligible individuals who are age 55 and older by definition of the statute remains at $1,000 for 2010.

The new limits and maximums are effective January 1, 2010.

Please contact your Conner Strong representative with any questions, toll-free at 1-877-861-3220.

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