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IRS RELEASES 2014 LIMITS FOR HEALTH SAVINGS ACCOUNTS

May 7, 2013


The IRS has released the 2014 limits affecting Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs). The minimum required deductibles will not change from the 2013 amounts, but the HSA contribution limits and the HDHP out-of-pocket (OOP) maximums will increase for 2014.

HSA contribution limit in 2014:

  • Self-only $3,300 (increased from $3,250 in 2013)
  • Family: $6,550 (increased from $6,450 in 2013)
  • Catch-up contribution limit for HSA-eligible individuals who are age 55 or older: $1,000 (no change)

Deductible limit in 2014:

  • Self-only: Not less than $1,250 (no change)
  • Family: Not less than $2,500 (no change)

Out-of-pocket maximum limit in 2014:

  • Self-only: Not more than $6,350 (increased from $6,250 in 2013)
  • Family: Not more than $12,700 (increased from $12,500 in 2013)

Effect on the Affordable Care Act Cost-Sharing Limits

The OOP maximum limit is of particular importance this year since the Affordable Care Act (ACA) restricts all group health plans to an OOP amount that is tied to the level set by these rules for HSA-qualified HDHP plans. For plan years beginning in 2014, cost-sharing limits cannot exceed the maximum OOP limits published for HSA-compatible HDHPs. This overall cost-sharing limitation applies to all non-grandfathered group health plans, both fully-insured and self-funded.