“Mr. HSA” Finalizes 2013 HSA Projections

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Ramthun says that the maximum HSA contribution (not including catch-up contributions) will increase to $3,250 for individuals with self-only coverage and $6,450 for those with family coverage in 2013. “The HSA contribution limit for individuals ended up $50 higher than I projected in February,” Ramthun says. The annual catch-up contribution for individuals age 55 or older is set by statute and will remain $1,000 per person for 2013.

Roy Ramthun, also known as “Mr. HSA,” is now finalizing his projections for the 2013 amounts for HSAs. "With last Friday's release of the March inflation figures by the Bureau of Labor Statistics (BLS), the inflation-adjusted amounts for health savings accounts (HSAs) for 2013 can be finalized," says Ramthun.

“I am pleased to be able to provide this information in advance of the official publication by the Internal Revenue Service. The earlier notice will help banks, health plans, and plan administrators begin to lock in their program designs for next year,” says Ramthun. The IRS is required to publish the inflation-adjusted amounts for the upcoming year by June 1 each year.
Ramthun says that the maximum HSA contribution (not including catch-up contributions) will increase to $3,250 for individuals with self-only coverage and $6,450 for those with family coverage in 2013. “The HSA contribution limit for individuals ended up $50 higher than I projected in February,” Ramthun says. The annual catch-up contribution for individuals age 55 or older is set by statute and will remain $1,000 per person for 2013.

Ramthun also says that changes may be needed for HSA-qualified insurance plans as well. “For the first time in three years, the minimum deductible for HSA-qualified plans will increase. The minimum deductible will rise to $1,250 for individuals with self-only coverage and $2,500 for individuals with family coverage.”

Ramthun reminds consumers enrolled in HSA-qualified plans with the minimum deductible for 2012 to make sure that their plan remains HSA-qualified for 2013. “If your deductible does not increase to $1,250 or $2,500 at your plan renewal, you will lose your HSA eligibility for the coming year,” says Ramthun.

“The limits on out-of-pocket expenses will also rise for 2013,” says Ramthun. “The new limits will rise to $6,250 for individuals with self-only coverage and $12,500 for individuals with family coverage. Existing plans with lower limits will not have to change this feature of their plan designs but can if they want to,” says Ramthun.

About Roy Ramthun:
Roy Ramthun led the U.S. Treasury Department’s implementation of the HSA program after they were enacted in 2003. Now a private consultant, Ramthun is a nationally-recognized expert on HSAs and consumer-driven health plans. He is a frequent speaker at conferences and seminars around the country. More information is available at http://www.mrhsa.com.

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Timothy Morales
HSA Clearing Corp
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