How much may be contributed to an HSA?
The maximum amount that may be contributed to an HSA for any year is 100 percent of the high-deductible health plan’s annual deductible or a certain amount established by the IRS for each year (depending on whether you have single coverage or family coverage). The amounts established by the IRS for 2006 are $2,700 for individual coverage and $5,450 for family coverage. You should check with your legal or tax advisor to determine the limit that applies to you for the current year. The same annual contribution limit applies regardless of whether the contributions are made by an employee, an employer, or both.
The maximum amount that may be contributed to an HSA is an amount established by the IRS for each year (depending on whether you have single coverage or family coverage). The amounts established by the IRS for 2009 are $3,000 for individual coverage and $5,950 for family coverage. You should check with your legal or tax advisor to determine the limit that applies to you for the current year. The same annual contribution limit applies regardless of whether the contributions are made by an employee, an employer, or both.
The maximum amount that may be contributed to an HSA for any year is a certain amount established by the IRS for each year (depending on whether you have single coverage or family coverage). The same annual contribution limit applies regardless of whether the contributions are made by an employee, an employer, or both. If you enroll in an HDHP January 1 through December 1 of the current tax year, you are allowed to make the full deductible HSA contribution for the year. Thus, you are allowed to make contributions for months prior to enrolling in an HDHP. You must have coverage under a qualified HDHP and remain eligible for 12 months after the end of the calendar year in which you enrolled in an HDHP. If you are not covered by an HDHP for 12 months after the end of the calendar year in which you enrolled in an HDHP, you will be subject to income tax and a 10 percent excise tax on HSA contributions for months not covered by an HDHP. The total contribution for the year can be made in one
