The IRS released the 2011 cost-of-living adjusted HSA contribution limits and HDHP minimum deductibles and out-of-pocket maximums. Indexed for inflation, based on changes in the consumer price index (CCI), the contribution limits and deductibles remain the same compared to the 2010 amounts.
HSA Contribution Limits
The annual HSA contribution limit in 2011 for individuals with self-only HDHP coverage remains at $3,050, and the limit for individuals with family HDHP coverage remains at $6,150. The additional tax on distributions made from HSAs not used for qualified medical expenses is increased from 10% to 20% of the amount includible in gross income.
HDHP Minimum Required Deductibles
The minimum annual deductible in 2011 for self-only HDHP coverage remains $1,200 and for family HDHP coverage remains at $2,400.
HDHP Out-of-Pocket Maximum
The maximum limit on out-of-pocket expenses for self-only HDHP coverage in 2011 remains at $5,950, and the limit for family HDHP coverage remains $11,900.
HSA Catch-up Contribution
The catch-up contribution limit (for HSA-elibible individuals who are age 55 or older), remains at $1,000 for 2011.
The IRS Rev. Proc. 2010-22 is available at http://irs.gov/pub/irs-drop/rp-1–22.pdf
