On May 24, 2010, the Internal Revenue Service (IRS) issued inflation-adjusted limits for contributions to a health savings account (HSA) for calendar year 2011 (Revenue Procedure 2010-22). Under cost-of-living adjustment rules of Code section 223, the annual limits for 2011 remain unchanged from 2010 because the changes in the consumer price index for the relevant period do not result in changes to the amounts for 2011.
Therefore, for calendar year 2011, the limit on contributions for an individual with self-only coverage under a high-deductible health plan is:
- $3,050 for individual coverage
- $6,150 for family coverage
A high-deductible health plan for calendar year 2011 is defined as a health plan with an annual deductible of not less than $1,200 for self-only coverage ($2,400 for family coverage). The limit on annual out-of-pocket expenses is $5,950 for self-only coverage ($11,900 for family coverage). The limit on catch-up contributions for individuals age 55 or older is $1,000.
Read the full text of Revenue Procedure 2010-22.
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