IRS announces changes to 2013 Health Savings Accounts
Individuals participating in High Deductible Health Plans (HDHP) will have some new minimums and maximums to deal with for 2013, the Internal Revenue Service announced this week. The minimum required deductibles for self-only and family plans remain at $1,250 and $2,500, respectively; but out-of-pocket maximums increase to $6,250 and $12,500, respectively. For self-only plans, there will be an increase of $200 and for family plans, a $400 increase.
IRS has increased the contributions limit for health savings accounts (HSAs) for self-only plans to $3,250 and family plans to $6,450. Those are increases of $150 and $200, respectively.
The catch-up contribution limit for persons over age 55 remains unchanged at $1,000.
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