IRS Releases 2006 HSA Limits

October 28, 2005 (PLANSPONSOR.com) - The Internal Revenue Service released the 2006 inflation adjusted indexed numbers for tax benefits.

Included are the new Health Savings Account (HSA) limits for contributions, and deductibles and out-of-pocket numbers for H.S.A. High Deductible Health Plans (HDHP).

The HSA maximum contribution for individuals increases to $2,700 from $2,650 in 2005, while the maximum contribution for families increases to $5,450 from $5,250.   The catch up contribution for those aged 55 and over increases to $700 from $600 in 2005.

The maximum out-of-pocket for HSA HDHPs will be $5,250 for individuals and $10,500 for families in 2006.   The minimum deductible for HSA HDHPs will increase to $1,050 for individuals and $2,100 for families.

IR-2005-70 can be viewed  here .

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