Health Insurance Daily

All NEW 2007 IRS HSA Deductibles, Maximum Out-of-Pocket and Contributions

In 2007, the maximum contribution that can be made to an HSA for individuals with single coverage will be $2,850, up from $2,700 in 2006, while the maximum contribution for those with family coverage will rise to $5,650, up from $5,450 this year.

Additionally, the maximum out-of-pocket expense—including deductibles—that employees with single coverage can be required to pay will rise to $5,500, up from $5,250 in 2006, and to $11,000, up from $10,500, for those with family coverage.

The minimum deductible of the high-deductible health insurance plan to which HSAs must be linked will increase to $1,100, up from $1,050, for individuals with single coverage, while the minimum deductible for those with family coverage will increase to $2,200, up from $2,100.

The new limits reflect increases in the cost of living.

The "catch-up" contribution for individuals age 55 and older will be $800 for 2007.

posted by Mike @ 8:45 AM