2006 IRS Guidelines New Annual Contribution Levels for HSAs: - For 2006, the maximum annual HSA
contribution for an eligible individual with self-only
coverage is $2,700. (Note: for any individual, the maximum
contribution is the lesser of the indexed amount or the
deductible of the HDHP.)
- For family coverage the maximum HSA
contribution is $5,450.
- Catch up contribution for
individuals who are 55 or older is increased by statute to
$700 for 2006.
- Both the HSA contribution and catch up contribution are pro-rated based on the number of months of the year a taxpayer is an eligible individual.
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New Amounts for Out-of-Pocket Spending on HSA-Compatible HDHPs: - The maximum annual out-of-pocket amounts for HDHP self-coverage increase to $5,250 and the maximum annual out-of-pocket amount for HDHP family coverage is twice that, $10,500.
Minimum Deductible Amounts for HSA-Compatible HDHPs: - For 2006, the minimum deductible for HDHPs increases to $1,050 for self-only coverage and $2,100 for family coverage.
Note that a fiscal year HDHP that satisfies the requirements for an HSA-compatible HDHP on the first day of its fiscal year may apply that deductible for the entire fiscal year. |
