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News
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Consumer Reports has added prescription medicines to the products it reviews. Comparisons of kinds of widely used medicines are available on its new website. Check it out for yourself for free at www.crbestbuydrugs.org
Health Savings Accounts Contribution Limits
The U.S. Treasury has released the IRS limits for 2008.
2008 IRS Limits
|
Individual |
Family |
|
Minimum Deductible |
$1,100 |
$2,200 |
|
Maximum Out-of-pocket |
$5,600 |
$11,200 |
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Contribution Limit |
$2,900 |
$5,800 | For more information about the 2008 limits visit: http://ustreas.gov/offices/public-affairs/hsa/pdf/rp-2007-36.pdfDon't forget that the 2007 legislative changes allow accountholders to contribute the maximum IRS limit, despite what the deductible may be. For more information on the 2007 guidance visit: http://ustreas.gov/offices/public-affairs/hsa/07IndexedAmounts.shtml
2007 HSA Limits were set by the Treasury Department and the IRS. The amounts have been indexed for the cost-of-living adjustments for 2006 and are shown in the table below.
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Minimum Deductible |
Maximum Contribution |
Maximum Out-of-Pocket |
| Single |
$1,100 |
$2,850 |
$5,600 |
| Family |
$2,200 |
$5,650 |
$10,400 |
| Catch-up Contribution |
for eligible individuals over the age of 55 |
$800 |
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