What is a “high-deductible health plan” that makes someone eligible for an HSA?
A “high-deductible health plan” is a health plan that: (1) has an annual deductible of at least $1,050 for individual (self-only) coverage or (2) has an annual deductible of at least $2,100 for family (coverage of more than one individual) coverage. In addition, the annual out-of-pocket expenses required to be paid under the plan cannot exceed $5,250 for individual coverage and $10,500 for family coverage. (These dollar amounts are the amounts in effect during 2006, and are subject to change for later tax years.) Out-of-pocket expenses includes deductibles, co-payments, and other amounts the participant must pay for covered benefits, but do not include premiums or amounts incurred for noncovered benefits (including amounts in excess of usual, customary and reasonable amounts, and financial penalties).
A “high-deductible health plan” is a health plan that: (1) has an annual deductible of at least $1,150 for individual (self-only) coverage or (2) has an annual deductible of at least $2,300 for family (coverage of more than one individual) coverage. In addition, the annual out-of-pocket expenses required to be paid under the plan cannot exceed $5,800 for individual coverage and $11,600 for family coverage. (These dollar amounts are the amounts in effect during 2009, and are subject to change for later tax years.) Out-of-pocket expenses includes deductibles, co-payments, and other amounts the participant must pay for covered benefits, but do not include premiums or amounts incurred for noncovered benefits (including amounts in excess of usual, customary and reasonable amounts, and financial penalties).
