IRS Releases 2014 HSA Limits

IRS Releases 2014 HSA Limits

Breaking news!   The Internal Revenue Service has just released the 2014 cost-of-living-adjusted HSA limits.  The following takes effect for calendar year 2014.

Annual contribution limits

  • $50 increase (EE Only): The annual limitation on deductions for an individual with employee-only coverage under a high deductible health plan (HDHP) is $3,300 — up $50 from 2013.
  • $100 increase (Family, or more than EE-Only): The annual limitation on deductions for an individual with family coverage under a HDHP is $6,550 — up $100 from 2013.

Minimum deductible – No increases in 2014

  • EE Only – No increase: The minimum deductible for employee-only HDHP coverage remains $1,250 — the same amount as 2013’s minimum deductible.
  • Family, or more than EE-Only – No increase: The minimum deductible for family HDHP coverage remains $2,500 — the same amount as 2013’s minimum deductible.

Out-Of-Pocket (OOP) Max

  • $100 increase (EE Only): The limit on maximum out-of-pocket expenses (including deductibles, co-pays and co-insurance — but not premiums) for employee-only HDHP coverage is $6,350 – up $100 from 2013’s limit.
  • $200 increase (Family, or more than EE-Only): The limit on maximum out-of-pocket expenses for family HDHP coverage is $12,700 — up $200 from 2013’s limit.

To read IRS Revenue Procedure 2013-25 click here.

See also AP Benefit Advisors’ multi-year HSA/FSA/HRA reference chart.