The U.S. Department of the Treasury released the 2012 limits for health savings accounts (HSAs) and for high-deductible health plans (HDHPs) to which HSAs must be linked. The amounts are being raised for 2012, whereas the 2011 rates were unchanged from 2010.
In Revenue Procedure 2011-32, released on May 16, 2011, the IRS provides the inflation-adjusted HSA contribution and HDHP minimum deductible and out-of-pocket limits for 2012. The higher rates reflect the cost-of-living adjustment and rounding rules of Internal Revenue Code section 223. The 2012 amounts are shown below.
|
2012 Limits for Health Savings Accounts and High-Deductible
Health Plans |
|
|
For 2012 |
For 2011 |
Change |
|
HSA statutory contribution amount |
Individual: $3,100
Family: $6,250 |
Individual: $3,050
Family: $6,150 |
Individual: +$50
Family: +100 |
|
HSA catch-up contributions (age 55 or older)* |
$1,000 |
$1,000 |
No change** |
|
HDHP minimum deductible amounts |
Individual: $1,200
Family: $2,400 |
Individual: $1,200
Family: $2,400 |
No change |
|
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) |
Individual: $6,050
Family: $12,100 |
Individual: $5,950
Family: $11,900 |
Individual: +$100
Family: +$200 |
* If both spouses are 55 or older and both are eligible to contribute to an HSA, then both spouses may make a catch-up contribution annually but must open separate HSA accounts (one in each spouse’s name). Each spouse can contribute up to $1,000 extra to their respective accounts.
** Unlike the other limits, the HSA catch-up contribution amount is not indexed; any increase would require statutory change.
Related Articles—SHRM:
Consumer-Driven Decision: HSAs vs. HRAs, SHRM Online Benefits Discipline, May 2011
Aetna Study: CDHPs Saved Employers Millions of Dollars, SHRM Online Benefits Discipline, February 2011
Related Resources—External:
Contributions to a Health Savings Account, HSAed.com
Quick Links:
SHRM Online Benefits Discipline
SHRM Online Health Care Reform web page