The maximum contributions that can be made to health savings accounts in 2014 will rise slightly. The following data for 2014 was recently released by the IRS for Health Savings Accounts (HSAs):
- The maximum contribution that can be made to an HSA in 2014 is $3,300 for employees with single coverage, up from $3,250 in 2013.
- The maximum 2014 HSA contribution for those with family coverage will be $6,550, up from $6,450 this year.
- The maximum out-of-pocket employee expense, including deductibles, will rise to $6,350 in 2013 for single coverage, up from $6,250 in 2013. For family coverage, it will increase to $12,700 next year from $12,500 this year.
- The minimum deductible for a high-deductible health care plan to which HSAs must be linked will remain at $1,250 for single coverage and $2,500 for family coverage.