2008 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses
2008 offers individuals and families additional opportunities to save for current and future health care with a health savings account:
- HSA holders can choose to save up to $2,900 for an individual and $5,800 for a family (HSA holders 55 and older get to save an extra $900 which means $3,800 for an individual and $6,700 for a family) – and these contributions are 100% tax deductible from gross income.
- Minimum annual deductibles are $1,100 for self-only coverage or $2,200 for family coverage.
- Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $5,600 for self-only coverage and $11,200 for family coverage.
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Minimum
Deductible
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Maximum
Out-of-Pocket
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Contribution Limit
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55+ Contribution
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Single
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$1,100
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$5,600
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$2,900
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$900
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Family
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$2,200
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$11,200
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$5,800
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$900
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For more detailed information on changes in HSA law, visit the U.S. Department of Treasury website at www.ustreas.gov or talk with your tax advisor.
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