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Colorado Health Insurance Insider

Cutting edge health insurance analysis. Licensed broker assistance.

IRS Announces 2008 COLA Amounts for HSAs

June 4, 2007 By Jay Norris

The Internal Revenue Service has announced the 2008 cost of living adjustments (COLAs) for high deductible health plans (HDHPs) that are offered in conjunction with health savings accounts (HSAs).

The minimum required annual deductibles for HDHPs will remain unchanged in 2008. However, the annual contribution limits and the maximum out-of-pocket limits will be raised. For self-only coverage, the maximum out-of-pocket for 2008 will be $5,600 and the maximum annual contribution limit will be $2,900. For family coverage, the maximum out-of-pocket for 2008 will be $11,200 and the maximum annual contribution limit will be $5,800.

Related Articles:

  • IRS Announces 2020 HSA Limits
  • Standardized plans don't signal the death of HSAs

Filed Under: HSA

About Jay Norris

Jay operates a health insurance brokerage in Colorado, where he helps individuals and small groups obtain and maintain health insurance coverage, provides data analysis, and creates visualizations that are easily understood by consumers and other stakeholders in Colorado’s health insurance market.

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