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IRS issues 2015 HSA Limits and Other Cost-Sharing Matters

In Revenue Procedure 2014-30, the IRS released the 2015 cost of living adjustments relating to health savings accounts.  The high deductible health plan (HDHP) out-of pocket limits and the statutory health savings account (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

2015

2014

2015

2014

HDHP Annual Deductible

 $1,300

 $1,250

 $2,600

 $2,500

HDHP Annual Out-of-Pocket Limits

 $6,450

 $6,350

 $12,900

 $12,700

Contribution Limits

$3,350

$3,300

$6,650

$6,550

Limitations on Cost-Sharing under the Affordable Care Act

For plan years beginning in 2014, the Affordable Care Act (ACA) imposes cost-share restrictions on essential health benefits.  Specifically, the out-of-pocket limits are, for 2014, the same as the out-of-pocket limits applicable to HDHP limits tied with an HSA.  In 2015, they are tied to a premium adjustment percentage calculated according to Health and Human Services (HHS) guidelines.  HHS has proposed the annual limitation on out-of-pocket costs for 2015 would be $6,600 for self-only coverage and $13,200 for family coverage.  These limits are slightly different than those allowed by HDHP coverage tied to an HSA.

In addition to these out-of-pocket limits, small insured plans offered in/outside Marketplace were to be subject to a deductible restriction of $2,000 single/$4,000 family.  On April 1, 2014, President Obama signed H.R. 4302, Protecting Access to Medicare Act of 2014 (P. L. 113-93) repealing the deductible restriction, retroactive to the ACA’s enactment (3/23/10).  

 

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