The IRS has released guidelines for 2015 HSA contribution limit, minimum deductible amounts, and maximum out-of-pocket amounts. If you have an HSA or are considering opening one in 2015, here’s what you need to know:
- For a single individual, the 2015 HSA contribution limit will be $3,350 (a $50 increase).
- For a family, the 2015 HSA contribution limit will be $6,650 (a $100 increase).
Deductibles on HSA-qualified plans have to be at a level that is considered “high deductible” and the minimum deductibles increase a little bit each year. Here are the new amounts for 2015:
- For a single individual, an HSA-qualified plan in 2015 must have a deductible no lower than $1,300 (a $50 increase from this year).
- For a family, an HSA-qualified plan in 2015 must have a deductible no lower than $2,600 (a $100 increase from this year).
Maximum Out of Pocket Amounts
There is also a cap on out-of-pocket costs that applies specifically to HSA-qualified plans. In 2014, the cap also happens to line up with the ACA (Obamacare) rules that apply to all plans in the individual market (on or off-exchange). But in 2015, HSAs will have an out-of-pocket maximum that is a little lower than the amount allowed for other plans under the ACA.
- For a single individual, the maximum out-of-pocket exposure on an HSA-qualified plan cannot exceed $6,450 in 2015 (a $100 increase from this year)
- For a family, the maximum out-of-pocket exposure on an HSA-qualified plan cannot exceed $12,700 in 2015 (a $200 increase from this year)
- Note that both of these amounts are lower than the out-of-pocket limits imposed by the ACA on plans that are not HSA-qualified. Those plans will have 2015 maximum out-of-pocket limits of $6,600 for an individual and $13,200 for a family (obviously plans may have lower out-of-pocket limits, but cannot exceed those amounts. HSA-qualified plans must adhere to the HSA regulations).
If you have questions about HSAs, or HSA-qualified high deductible health plans (HDHPs, also sometimes referred to as consumer directed health plans or CDHPs), please let us know. We can help you find the one that will work best for you, and there’s never a charge for our services.