IRS Announces 2014 HSA Contribution Limits

According to Revenue Procedure 2013-25, for calendar year 2014, the annual limitation on deductions under for an individual with self-only coverage under a high deductible health plan is $3,300. The annual limitation on deductions for an individual with family coverage under a high deductible health plan is $6,550.  

For calendar year 2014, a high deductible health plan is defined under § 223(c)(2)(A) of the Internal Revenue Code as a health plan with an annual deductible that is not less than $1,250 for self-only coverage or $2,500 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,350 for self-only coverage or $12,700 for family coverage.