HSA Contribution Limits for 2013

Most of us are still living in 2012, but the IRS has just announced the contribution limits for HSA (health savings accounts) for 2013:

HSA contribution limits: 

  • Individuals (self-only coverage) – $3,250 (up $150 from 2012)
  • Family coverage – $6,450 (up $200 from 2012)

A health savings account allows you to make pre-tax deposits that can be used to pay for health-related expenses. It’s a great way to make your health dollars (and most of us have a lot of health spending, unfortunately!) go farther and get a nice tax break. In order to open an HSA, you must first be covered by a “qualified” high deductible health insurance plan. The idea with these plans is that you will self-insure the first expenses (usually in the $1500-$5k range for an individual, double that for a family) and then have the insurance policy cover all of the expenses after that. (You will get preventative care upfront).
If you’re interested in getting rates for an HSA-qualified health insurance plan, please contact us or check out our online health quote engine to get some instant numbers.