What is the maximum amount I can contribute for 2008 to my Health Savings Account (HSA)?
*FOR TAX YEAR 2008 a high deductible health plan (HDHP) is defined as a plan having an annual deductible amount of at least $1,100 for Self-Only coverage, and at least $2,200 for Family Coverage; and having a maximum annual out-of-pocket expense of $5,600 for Self-Only coverage, and $11,200 for Family coverage. Eligible individuals age 55 or older may make additional “catch-up” contributions of up to $900 in 2008, increasing by $100 per year up to $1,000 annually in 2009. **Special rules apply for those who are not covered by a HDHP for the whole year. See HSA Frequently Asked Questions for more detail PLEASE NOTE: The accuracy of this calculator and its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals. State Farm is providing this software “as is” without any warranty of any kind, either expressed or implied, including without limitation the implied warranties of merchantability and fitness for a particular purpose.
