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June 7, 2010

No Change in Cost of Living Adjustments for HSAs

In Rev Proc 2010-22, the IRS released 2011 cost of living adjustments (COLA) for health savings accounts; however, you will note that there are no adjustments for 2011.  A COLA is based on the cost of living index; which has dropped; and thus, there are no increases for 2011.

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.

 

Individual/Self Only

Family

2010

2011

2010

2011

HDHP Annual Deductible

$1,200

$1,200

$2,400

$2,400

HDHP Annual Out-of-Pocket Limits

$5,950

$5,950

$11,900

$11,900

Contribution Limits

$3,050

$3,050

$6,150

$6,150

 

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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