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June 5, 2007

2008 HSA Cost-of-Living Adjustments

In Rev Proc 2007-36, the IRS released 2008 cost of living adjustments for health savings accounts.  Following are annual deductible amounts for a high deductible health plan (HDHP) used in conjunction with a health savings account (HSA), and limits for out-of-pocket expenses and contributions for both 2007 and 2008.

 

Individual/Self Only

Family

2007

2008

2007

2008

HDHP Annual Deductible

$1,100

$1,100

$2,200

$2,200

Out-of-Pocket Expenses

$5,550

$5,600

$11,000

$11,200

Contribution Limits

$2,850

$2,900

$5,650

$5,800

 

The information contained in this Benefit Beat is not intended to be legal, accounting, or other professional advice, nor are these comments directed to specific situations.

As required by U.S. Treasury rules, we inform you that, unless expressly stated otherwise, any U.S. federal tax advice contained in this Benefit Beat is not intended or written to be used, and cannot be used, by any person for the purpose of avoiding any penalties that may be imposed by the Internal Revenue Service.

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