The Internal Revenue Service has issued guidance that for 2009, HSA contributions are tax-deductible up to either:
- $3,000 for single coverage
- $5,950 for family coverage
For 2010, HSA contributions are tax-deductible up to either:
- $3,050 for single coverage
- $6,150 for family coverage
Account holders age 55 and older may contribute an additional $1,000 per year in 2009 and in 2010. Account holders should consult a tax advisor for more information and/or advice on their specific circumstances.
How an HSA Works with an HSA eligible health plan
For 2009, IRS guidance for an HSA eligible health plan is as follows:
- Minimum annual deductible: $1,150 for individual coverage. $2,300 for family coverage
- Out-of-pocket maximum: No more than $5,800 for individual coverage, no more than $11,600 for family coverage
For 2010, IRS guidance for an HSA eligible health plan is as follows:
- Minimum annual deductible: $1,200 for individual coverage. $2,400 for family coverage
- Out-of-pocket maximum: No more than $5,950 for individual coverage, no more than $11,900 for family coverage
For more detailed information regarding eligible and ineligible expenses download the following PDF document.
 Eligible/Ineligible Expenses
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