The IRS has announced the 2015 inflation-adjusted figures for health savings accounts (HSAs) and high-deductible health plans (HDHPs).
- Employees with self-only coverage under HDHPs can contribute up to $3,350 into their HSAs. The minimum annual deductible for an HDHP is $1,300. The maximum amount of out-of-pocket expenses (i.e., deductibles, co-payments, etc.) is $6,450.
- Employees with family coverage under HDHPs can contribute up to $6,650 into their HSAs. The minimum annual deductible for an HDHP is $2,600. The maximum amount of out-of-pocket expenses (i.e., deductibles, co-payments, etc.) is $12,900. (Rev. Proc. 2014-30, IRB 2014-20)
The Department of Health and Human Services (HHS) sets the out-of-pocket limits for nongrandfathered group plans (i.e., qualified group plans that weren’t in existence on March 23, 2010). Because the HHS uses the “premium adjustment percentage” (not the IRS’ inflation rate) to measure cost-sharing increases, the 2015 increases for non-HDHP qualified group plans outstrip the IRS’ figures: $6,600 for self-only coverage and $13,200 for family coverage.
Warning: The premium adjustment percentage is also used to adjust the Affordable Care Act’s free-rider penalties for organizations that flout the law’s employer mandate.