The Internal Revenue Service recently released Rev. Proc. 2011-32 which contained the 2012 inflation adjusted amounts for Health Savings Accounts or HSAs.
Deductions Limitation Set to Increase
The annual limitation on deductions will increase from $3,050 in 2011 to $3,100 in 2012 for those with self-only coverage. Those with family coverage will have the deduction limitation increase from $6,150 to $6,250.
High-Deductible Health Plan Minimum Deductibles Unchanged
The minimum deductibles of a high deductible health plan will see no change; they will remain at a minimum deductible of $1,200 in 2012 for self-only coverage and $2,400 for family coverage.
Annual Out-of-Pocket Limitation to Increase
The annual out-of-pocket limitation for 2012 will also increase from $5,950 in 2011 to $6,050 for those with self-only coverage; the out-of-pocket limitation for family coverage will increase from $11,900 to $12,100.
Contact Vision Payroll Today
Contact Vision Payroll if you have any questions on the updated 2012 inflation adjusted amounts for HSAs in Rev. Proc. 2011-32 or visit our Important Facts and Figures page for further information.