IRS Releases 2015 Inflation Adjustments for Health Savings Accounts

The Internal Revenue Service recently released Rev. Proc. 2014-30 which contained the 2015 inflation adjusted amounts for Health Savings Accounts or HSAs.

Deductions Limitation Set to Increase

The annual limitation on deductions will increase from $3,300 in 2014 to $3,350 in 2015 for those with self-only coverage. Those with family coverage will have the deduction limitation increase from $6,550 to $6,650.

High-Deductible Health Plan Minimum Deductibles to Increase

The minimum deductibles of a high deductible health plan will increase from a minimum deductible of $1,250 in 2014 to $1,300 in 2015 for self-only coverage, and from $2,500 in 2014 to $2,600 in 2015 for family coverage.

Annual Out-of-Pocket Limitation to Increase

The annual out-of-pocket limitation for 2015 will also increase from $6,350 in 2014 to $6,450 for those with self-only coverage; the out-of-pocket limitation for family coverage will increase from $12,700 in 2014 to $12,900 in 2015.

Contact Vision Payroll Today

Contact Vision Payroll if you have any questions on the updated 2015 inflation adjusted amounts for HSAs in Rev. Proc. 2014-30 or visit our Important Facts and Figures page for further information.