2009 Health Savings Account Limits

As we are in the month of June already, it is important to take a moment and review your Health Savings Account to ensure the maximum benefit is being obtained. In 2009, the limits on health savings accounts were increased.

The 2009 levels are as follows:

New Annual Contribution Levels for HSAs: For 2009, the maximum annual HSA contribution will rise to $3,000 for individual coverage (up from $2,850 in 2008) and $5,950 for family coverage (up from $5,800 in 2008).

Catch up contributions for individuals who are 55 or older is increased by statute to $1,000 for 2009 and all years going forward.

Individuals who are eligible on the first day of the last month of the taxable year (December for most taxpayers) are allowed the full annual contribution (plus catch up contribution, if 55 or older by year end), regardless of the number of months the individual was eligible in the year.

For individuals who are no longer eligible individuals on that date, both the HSA contribution and catch up contribution apply pro rata based on the number of months of the year a taxpayer is an eligible individual.

New Amounts for Out-of-Pocket Spending on HSA-Compatible HDHPs:

For 2009, the maximum annual out-of-pocket amounts for HDHP self-coverage increase to $5,800 and the maximum annual out-of-pocket amount for HDHP family coverage is twice that, $11,600.

Minimum Deductible Amounts for HSA-Compatible HDHPs:

For 2009, the minimum deductible for HDHPs increases to $1,150 for self-only coverage and $2,300 for family coverage. The current minimum deductibles are $1,100 for single coverage and $2,200 for family coverage.


Publication 969 - Health Savings Accounts