| Tax Law Updates for HSA
The IRS has made several changes to the HSA's limits. These are as follows;
1. The IRS is going to raise the annual caps on deductible payins to HSA for the tax year 2009.
2. The maximum will increase to $5,950 for those taxpayers with family coverage and for the single coverage this amount will be increased to $3,000.
3. Any account owner born before 1955 would be able to contribute an additional $1,000.
4. The annual cap for out of pocket costs will rise to $11,600 for family coverage and $5,800 for single coveraage.
5. The mimimum policy deductible will increase to $2,300 for family coverage and $1,150 for single coverage.
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