The Internal Revenue Service (IRS) recently released Rev. Proc. 2010-22, which contained the 2011 inflation adjusted amounts for Health Savings Accounts or HSAs. Since the changes in the Consumer Price Index for the relevant period do not result in changes to the amounts in 2011, the amounts will stay the same as in 2010.
The annual limitation on deductions will remain at $3,050 in 2011 for those with self-only coverage. Those with family coverage will have the deduction limitation stay at $6,150.
The definition of a high deductible health plan will see no change from one with a minimum deductible of $1,200 in 2011 for self-only coverage and $2,400 for family coverage.
The annual out-of-pocket limitation for 2011 also will not increase from $5,950 for those with self-only coverage; the out-of-pocket limitation for family coverage remains at $11,900.
Contact Vision Payroll if you have any questions on Rev. Proc. 2010-22 and the amounts for HSAs in 2011.