Changes in HSA's for 2008
Apr-01-2008
The 2008 annual contribution limit on deductions is:
$2,900 for an individual with self-only coverage under a high deductible health
plan and $5,800 for an individual with family coverage
For calendar year 2008, a "high deductible health plan" is one that has:
An annual deductible of at least $1,100 for self-only coverage or $2,200 for family
coverage, and annual out-of-pocket expenses up to $5,600 for self-only coverage
or $11,200 for family coverage (includes deductibles, co-payments, etc., but not
premiums).
Individuals age 55 and older, who are covered by an HDHP, can make additional catch-up
contributions each year until he/she enrolls in Medicare. The additional catch-up
contributions allowed are as follows:
- $2,900 for an individual with self-only coverage under a high deductible health
plan and $5,800 for an individual with family coverage
- An annual deductible of at least $1,100 for self-only coverage or $2,200 for family
coverage, and
- Annual out-of-pocket expenses up to $5,600 for self-only coverage or $11,200 for
family coverage (includes deductibles, co-payments, etc., but not premiums).
- For 2008, $900
- For 2007, $800
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