2014: Higher Limits for HSA Contributions

The IRS has announced higher limits for 2014 on individual contributions to health savings accounts (HSAs) and for out-of-pocket expenses in high-deductible helath plans (HDHPs).  The 2014 limits are listed below:

  2014 2013
HSA contribution limit

Individual = $3,300

Family = $6,550

Individual = $3,250

Family = $6,450

HDHP minimum deductibles (no change)

Individual = $1,250

Family = $2,500

Individual = $1,250

Family = $2,500

HDHP maximum out-of-pocket amounts

Individual = $6,350

Family = $12,700

Individual = $6,250

Family = $12,500

View full article:  http://view.intercaresolutions.com/intercare-compliance-advisory-irs-announces-2014-hsahdhp-limits/

Davis & Hodgdon Associates has been assisting individuals and businesses in the Burlington Vermont Metro area for more than 20 years. The firm provides tax planning for individuals, corporations, trusts and estates that are seeking effective strategies to keep more of what they’ve earned. We also prepare all types of tax returns, including individuals, businesses, gifts and estates, trusts, nonprofits and foundations.For more information please call 802.878.1963 or email [email protected].

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