HSA Contribution Limits

Health Savings Account 2007 Contribution Limits

What is the maximum contribution for individual health plans?

 

$2,850, regardless of deductible.
If an individual does not stay in the Health Savings Account-eligible plan 12 months following the last month of the first year of eligibility, the amount which could not have been contributed will be included in income and subject to a 10 percent additional tax.

What is the maximum contribution for family health plans?

 

$5,650, regardless of deductible.
See above for exceptions.

What is the catch-up contribution if I am 55 or older?

 

$800

Can I roll over unused funds from an FSA or HRA?

 

Yes, regulations now allow you to roll over unused funds from an FSA or HRA on a one-time basis.  Please talk to your employer or third-party administrator for specific details. 

Can I transfer funds from an IRA to my HSA?

 

Yes, regulations allow a one-time rollover from an IRA to an HSA, up to the annual HSA contribution maximum.  Prior to transferring funds, please consult your tax advisor to discuss the benefits and tax reporting requirements.

  

More on Health Savings Accounts

 
 
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