IRS Announces 2011 HSA Limits

The Internal Revenue Service (IRS) announced the 2011 inflation adjusted amounts for health savings accounts (HSAs) in Revenue Procedure 2010-22.
 
Annual contribution limits for calendar year 2011 are unchanged from 2010 amounts:

• Deductions for an individual with self-only coverage under a high deductible health plan: $3,050
• Deductions for an individual with family coverage under a high deductible health plan: $6,150

High deductible health plans (for calendar year 2011): A “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,200 for self-only coverage or $2,400 for family coverage, and the annual out-of-pocket expenses (deductibles, copayments, and other amounts, but not premiums) do not exceed $5,950 for self-only coverage or $11,900 for family coverage.