IRS Releases 2015 Health Savings Account Limits

HSA Contribution Limits and Minimum Deductibles for 2015 Adjusted for Inflation

The Internal Revenue Service (IRS) has released the 2015 inflation adjusted amounts for health savings accounts (HSAs). To be eligible to have contributions made to an HSA, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements.

Annual Contribution Limitation
For calendar year 2015, the annual limitation on HSA deductions for an individual with self-only coverage under an HDHP is $3,350. The annual limitation on HSA deductions for an individual with family coverage under an HDHP is $6,650.

High Deductible Health Plan
For calendar year 2015, a "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,450 for self-only coverage or $12,900 for family coverage.

To view the IRS announcement, please see Revenue Procedure 2014-30.

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