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Compliance October 28, 2005
IRS Releases 2006 HSA Limits
October 28, 2005 (PLANSPONSOR.com) - The Internal
Revenue Service released the 2006 inflation adjusted indexed
numbers for tax benefits.
Reported by Rebecca Moore
Included are the new Health Savings Account (HSA) limits for contributions, and deductibles and out-of-pocket numbers for H.S.A. High Deductible Health Plans (HDHP).
The HSA maximum contribution for individuals increases to $2,700 from $2,650 in 2005, while the maximum contribution for families increases to $5,450 from $5,250. The catch up contribution for those aged 55 and over increases to $700 from $600 in 2005.
The maximum out-of-pocket for HSA HDHPs will be $5,250 for individuals and $10,500 for families in 2006. The minimum deductible for HSA HDHPs will increase to $1,050 for individuals and $2,100 for families.
IR-2005-70 can be viewed here .