The IRS has announced the inflation-adjusted amounts for contributions, plan deductibles and out-of-pocket expenses for health savings accounts (HSAs) for 2014. Rev. Proc. 2013-25 sets the 2014 limit on HSA contributions at $3,300 for an individual with self-only coverage and $6,550 for an individual with family coverage. To qualify for an HSA, an individual's coverage in a group health plan must be under a high-deductible health plan (HDHP). The guidance provides that in 2014, HDHPs must have an annual deductible that is at least $1,250 for self-only coverage or $2,500 for family coverage, and annual out-of-pocket expenses cannot exceed $6,350 for self-only coverage or $12,700 for family coverage.
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