IRS announces 2013 HSA inflation adjustments — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

IRS announces 2013 HSA inflation adjustments

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in Compensation and Benefits,Human Resources

The IRS has announced the 2013 inflation-adjusted figures for health savings accounts (HSAs) and high-deductible health plans. Reminder: HSA amounts are expressed annually, but are figured on a monthly basis.

•    Employees with self-only coverage under high-deductible health plans can contribute up to $3,250 into their HSAs. The minimum annual deductible for a high-deductible health plan is $1,250. The maximum amount of out-of-pocket expenses (i.e., deductibles, copayments, etc.) is $6,250.

•    Employees with family coverage under high-deductible health plans can contribute up to $6,450 to their HSAs. The minimum annual deductible for a high-deductible health plan is $2,500. The maximum amount of out-of-pocket expenses is $12,500. (Rev. Proc. 2012-26, IRB 2012-20)

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