Wednesday, May 2, 2012

2013 HSA Limits Announced

HSA Contribution Limit:
     Indvidual coverage: $3,250
     Family coverage:  $6,450

HDHP Minimum deductible:
     $1,250 Individual coverage
     $2,500 Family coverage

Out-of-Pocket Maximum Expense:
     $6,250 Individual coverage
     $12,500 Family coverage

Remember as of 2011 over-the-counter drugs may only be reimbursed if they have a prescription.

If a policyholder uses an HSA to pay for items or services that aren't qualified medical expenses, the tax penalty is 20% of the HSA distribution.