An HDHP is an insurance policy that meets certain annual deductible and out-of-pocket expenses as listed below.
2008 HDHP Limits*
| |
Individual |
Family |
| Annual Deductible |
At least $1,100 |
At least
$2,200 |
Annual Deductible + out-of-pocket expenses cannot exceed ...
|
$5,600 |
$11,200 |
* All figures are indexed to inflation and therefore subject to change annually.
Contribution Limits
Contribution limits are based on the type of coverage, the annual deductible, the coverage period during a year, and the age of the account owner.
2008 HSA Contribution Limits*
- Catch-Up Contribution: $900, available to those age 55 or greater with no Medicare coverage
* All limits are indexed to inflation and therefore subject to change annually.
IRA Rollover
An HSA owner may take a one-time, tax-free distribution from his/her Individual Retirement Account and roll over that amount into an HSA. The rollover, plus any other HSA contributions, cannot exceed the annual contribution limit. (A testing period applies.) |
