IRS Releases 2015 HSA Limits

The Internal Revenue Service (IRS) has released the 2015 inflation-adjusted amounts for health savings accounts (HSAs) under Internal Revenue Code Section 223. For calendar year 2015, the annual limit for an individual with self-only coverage under a high-deductible plan is $3,350 or $6,650 for an individual with family coverage.

A high-deductible health plan is 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 annual out-of-pocket expense limits (e.g., deductibles, co-payments, and other amounts, but not premiums) that do not exceed $6,450 for self-only coverage or $12,900 for family coverage. HSA-eligible individuals age 55 or older can contribute an additional $1,000 in 2015 (no change from 2014).