| Greetings!
Please take note of this important PPACA Advisor Update presented by Commonwealth Benefits Group.
The PPACA Advisor resources will give you brief, to-the-point explanations about the law and how it directly affects you. This information -- compiled by benefit law experts and tailored for employers -- can help you meet your immediate compliance duties and better plan for the future.
Gordon M. Graffius, CLU Bradly W. Graffius, CLU, RHU CEO President |
IRS ISSUES 2014 HSA LIMITS
The IRS has issued the 2014 limits for health savings accounts. PPACA requires that this out-of-pocket limit be the maximum out-of-pocket for all health plans in 2014. The minimum deductible only applies to high deductible health plans integrated with an HSA. The limits are:
|
Limit |
2014 |
2013 | |
Maximum Out-of-Pocket |
$6,350 single/$12,700 family |
$6,250 single/$12,500 family | |
Minimum Deductible |
$1,250 single/$2,500 family (unchanged) |
$1,250 single/$2,500 family | |
Maximum Contribution |
$3,300 single/$6,550 family |
$3,250 single/$6,450 family | |
Maximum catch-up contribution - for individuals age 55 or older |
$1,000 (unchanged) |
$1,000 |
The out-of-pocket includes the deductible, coinsurance and co-pays, but not premiums.
This information is general and is provided for educational purposes only. It reflects UBA's understanding of the available guidance as of the date shown and is subject to change. It is not intended to provide legal advice. You should not act on this information without consulting legal counsel or other knowledgeable advisors. |
