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2013 HSA Limits
The Annual Contribution Limit for Health Savings Accounts (HSA) is set every year by the IRS. The Internal Revenue Service announced at the end of last year, the 2013 HSA Limits for annual contributions made to a health savings account (HSA).
Annual HSA Contributions are tax deductible and can be made either by an individual or by that individual's employer. Distributions for qualified medical expenses are not included in individual taxable income, and the earnings of HSA funds are not taxed.
In 2013, the limit for contributions for account holders with self-only coverage will go from $3,100 to $3,250-up $150. The limit for family coverage will go from $6,250 to $6,450-a $200 increase.
Minimum annual deductibles have incresed in 2013 to $1,250 for self-only coverage and $2,500 for family coverage. Maximum out-of-pocket expenses go up to $6,250 for self-only coverage and $12,500 for family coverage, up from $6,050 and $12,100 for 2012 respectively.
Download 2013 HSA Limits |
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Fiscal Cliff Fix Brings an Upside to IRAs
But retirement benefits will continue to be under the tax microscope
BenefitsPro, Andy Stonehouse, January 3, 2013
While the rest of us were busy wishing a not-so-fond farewell to the strange year that was 2012, our friends in Washington were burning the midnight oil to hammer together a last-minute workaround to the fiscal cliff fiasco. View Article |
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The Retirement Income Factor
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