The Internal Revenue Service (IRS) Announced the 2010 Inflation Adjusted Amounts for Health Savings Accounts (HSAs)
The revenue procedure provides the 2010 inflation adjusted amounts for HSAs as determined under Section §223 of the Internal Revenue Code.
The annual contribution maximum for calendar year 2010:
- Contributions for an individual with self-only coverage under a high deductible health plan* is $3,050 in 2010. This is a $50 increase over the 2009 maximum
- A contribution for an individual with family coverage under a high deductible health plan is $6,150 in 2010. This is a $200 increase for family coverage over the 2009 maximum.
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*A “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,200 for self-only coverage or $2,400 for family coverage and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $5,950 for self-only coverage or $11,900 for family coverage.