WASHINGTON — The maximum individual contribution to Health Savings Accounts is increasing from $2,900 to $3,000, the IRS announced last week.
The most that can be contributed to family plans will rise from $5,800 to $5,950. Catch-up contributions for those aged 55 and over will be $1,000, up from $900.
The maximum amount of out-of pocket amounts for High Deductible Health Plans self-coverage is $5,800 for individuals and $11,600 for families, up from $5,600 and $11,200, respectively.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.