Health Insurance Michigan | individual and group insurance solutions » what is the HSA contribution limit for 2010 http://mymichiganhealth.com Focused Insurance Solutions for Individuals, Families, and Small Business Mon, 06 Feb 2012 07:39:09 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 2010 HSA Contribution Limits, Deductibles, and Out-of-Pocket Expenses http://mymichiganhealth.com/2010-hsa-contribution-limits-deductibles-and-out-of-pocket-expenses/ http://mymichiganhealth.com/2010-hsa-contribution-limits-deductibles-and-out-of-pocket-expenses/#comments Thu, 13 Oct 2011 17:57:09 +0000 Billy Bj Strawter Jr http://mymichiganhealth.com/?p=682

2010 offers individuals and families additional opportunities to save for current and future health care with a health savings account:

  • HSA holders can choose to save up to $3,050 for an individual and $6,150 for a family (HSA holders 55 and older get to save an extra $1,000 which means $4,050 for an individual and $7,150 for a family) – and these contributions are 100% tax deductible from gross income.
  • Minimum annual deductibles are $1,200 for self-only coverage or $2,400 for family coverage.
  • Annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) cannot exceed $5,950 for self-only coverage and $11,900 for family coverage.

Single

Minimum Deductible:     $1200

Maximum Out-Of-Pocket:     $5950

Contribution Limit:     $3050

55+ Contribution Limit:     $1,000

Family

Minimum Deductible:     $2400

Maximum Out-of-Pocket:     $11,900

Contribution Limit:     $6150

55+ Contribution:     $1000

Originally posted 2010-03-09 09:19:49. Republished by Blog Post Promoter

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