IRS Announces Higher 2014 Health Savings Account Limits says ConnectYourCare

Increased Limits for HSA Contributions and High Deductible Health Plan Out-Of-Pocket Maximums Reports ConnectYourCare

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Hunt Valley, MD (PRWEB) May 03, 2013

The IRS has released the 2014 inflation-adjusted amounts for health savings accounts (HSAs) in Rev. Proc. 2013-25.

For 2014, HSA contribution limits and high deductible health plan (HDHP) out-of-pocket maximums are up slightly over 2013, while HDHP minimum required deductibles remain the same as 2013.

  • Annual Contribution Limits: $3,300 for self-only coverage and $6,550 for family coverage.
  • Up from 2013 contribution limits of $3,250 for self-only coverage and $6,450 for family coverage.
  • HDHP Minimum Annual Deductible: $1,250 for self-only coverage and $2,500 for family coverage.
  • No change from 2013 limits
  • HDHP Out-of-Pocket Maximum (deductibles, copayments, and other amounts, but not premiums): $6,350 for self-only coverage and $12,700 for family coverage.
  • Up from 2013 limits of $6,250 for self-only coverage and $12,500 for family coverage.

See news.connectyourcare.com for more HSA news and alerts.

About ConnectYourCare

ConnectYourCare's consumer-directed healthcare benefit delivery platform provides a fast path to transition to account-based health plans, enabling firms to lower health benefit costs while empowering consumers with the tools they need to better manage health savings. The platform of choice for large employers, health plans, and banks, ConnectYourCare offers a fresh, simplified approach to health savings by combining modern technology and a unique stewardship model to accelerate savings and consumer engagement. By removing complexity and motivating individuals to take control of health savings, ConnectYourCare maximizes return on investment for all participants in the healthcare benefits value chain and enables everyone to simplify, save and grow.


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