By Jerry Geisel, Crain News Service
WASHINGTON (April 24, 2014) — The maximum contributions that can be made to health savings accounts (HSAs) will increase $50 for individuals and $100 for families in 2015.
The Internal Revenue Service announced April 23 that the maximum contribution that can be made to an HSA in 2015 will be $3,350 for employees with single coverage—up from $3,300 this year.
The maximum HSA contribution for those with family coverage will be $6,650—up from $6,550.
The maximum out-of-pocket employee expense, including deductibles, will rise next year to $6,450 for single coverage from $6,350. For family coverage, it will increase to $12,900 from $12,700.
Increases in the HSA limits, which are detailed in Revenue Procedure 2014-30, are tied to changes in the cost of living.
This report appeared on the website of Crain's Business Insurance magazine, a Chicago-based sister publication of Tire Business.