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Member, Beacon International Group, Ltd.
WASHINGTON—The maximum contributions that can be made to health savings accounts in 2011 will be the same as this year due to the cost of living remaining flat.
Under Internal Revenue Service Revenue Procedure 2010-22, which was issued Monday, the maximum HSA contribution that can be made next year is $3,050 for employee-only coverage and $6,150 for family coverage—the same as this year.
In addition, the minimum deductible will stay at $1,200 for single coverage and $2,400 for family coverage.
The maximum out-of-pocket employee expense, including deductibles, will stay at $5,950 for single coverage and $11,900 for family coverage.
The HSA limits are tied to change in the cost-of living, which essentially was flat.
As of Jan. 1, about 10 million people were enrolled in high-deductible health insurance plans to which HSAs must be linked, a 25% increase over the last year, according to a survey released last week by America’s Health Insurance Plans in Washington.