HSA Contribution Limits and Minimum Deductibles Adjusted for Inflation

The IRS has released the 2015 inflation adjusted amounts for health savings accounts (HSAs). To be eligible to contribute to an HSA, an individual must be covered under a high deductible health plan (HDHP) and meet certain other eligibility requirements.

Annual Contribution Limitation: For calendar year 2015, the annual limitation on HSA deductions for an individual with self-only coverage under an HDHP is $3,350. The annual limitation on HSA deductions for an individual with family coverage under an HDHP is $6,650.

High Deductible Health Plan: For calendar year 2015, a "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,300 for self-only coverage or $2,600 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,450 for self-only coverage or $12,900 for family coverage.

On the Way: Employee Premium Tax Credit Notices from Exchanges

Wolters Kluwer 

Employers with employees who obtained health coverage through an Exchange need to have a procedure in place for dealing with notices from the Exchanges regarding premium tax credits. Read full article here.

 

 

Special Alert - FSA with Rollover and HSA Contributions

McGraw Wentworth

 

A recent IRS memo addresses seven different scenarios related to FSA rollovers and HSA contributions. This is helpful information for employers who want to allow rollovers, but not restrict employees from contributing to an HSA. Read the full article here.