Define Your Needs
Design Your Benefits
Guide You Through The Process
Deliver Superior Customer Service

|
| Health Savings Accounts (HSA's) |
|
A health savings account allows you to save money for future medical expenses.
Any adult can have an HSA if they:
- Have coverage under an HSA-qualified “high deductible health plan” (HDHP)
- Have no other first-dollar medical coverage
- Are not enrolled in Medicare
- Cannot be claimed as a dependent on someone else’s tax return.
|
IRS Requirements for 2010-2011
|
|
|
Single Plan
|
Family Plan
|
|
Minimum Deductible
|
$1,200
|
$2,400
|
|
Maximum Out-of-Pocket
|
$5,950
|
$11,900
|
|
Contribution Limit
|
$3,050
|
$6,150
|
|
Catch-Up Contribution (55 or older)*
|
$1,000
|
$1,000
|
|
* If a spouse is also 55 or older, a second HSA may be established and a second catch-up contribution of $1000 may be made to that account if desired.
|
| Other resources: US Treasury Website
|
|
|