Maximum HSA contribution to rise slightly in 2012

WASHINGTON—The maximum contributions that can be made to health savings accounts in 2012 will rise slightly, the Internal Revenue Service said Monday.

Under IRS Revenue Procedure 2011-32, the maximum contribution that can be made to an HSA in 2012 is $3,100 for employees with single coverage, up from $3,050 this year. The maximum HSA contribution for those with family coverage will be $6,250, up from $6,150 this year.

The maximum out-of-pocket employee expense, including deductibles, will rise next year to $6,050 for single coverage, up from $5,950 this year. For family coverage, it will increase to $12,100 next year from $11,900 this year.

Increases in the HSA limits are tied to changes in the cost of living,

However, the minimum deductible for a high-deductible health care plan to which HSAs must be linked will stay at $1,200 for single coverage and $2,400 for family coverage, the IRS said.

As of 2010, about 10 million people were enrolled in high-deductible health insurance plans to which HSAs must be linked, a 25% increase over 2009, according to America’s Health Insurance Plans. Enrollment figures for 2011 are expected to released soon.