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May 14, 2012

Health Savings Accounts: 2013 Cost of Living Adjustments

In Rev Proc 2012-26, the IRS released the 2013 cost of living adjustments (COLA) for health savings accounts.  The HDHP minimum deductibles, out-of pocket limits, and the statutory HSA contribution amounts, have increased slightly.  The $1,000 catch up contribution available to accountholders aged 55 and over is not subject to a cost of living adjustment and thus, remains at $1,000.

 

Individual/Self Only

Family

2013

2012

2013

2012

HDHP Annual Deductible

$1,250

$1,200

$2,500

$2,400

HDHP Annual Out-of-Pocket Limits

 $6,250

 $6,050

 $12,500

 $12,100

Contribution Limits

$3,250

$3,100

$6,450

$6,250

 

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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