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The U.S. Treasury and IRS have released the 2009 inflation-adjusted amounts for Health Savings Accounts for calendar year 2009. The annual limitation on deduction for an individual with self-only coverage under a high-deductible plan is $3,000 ($5,950 for an individual with family coverage).

A "high deductible health plan" is defined as a health plan with an annual deductible that is not less than $1,150 for self-only coverage or $2,300 for family coverage and annual out-of-pocket expenses (deductibles, co-payments and other amounts, but not premiums) do not exceed $5,800 for self-only coverage or $11,600 for family coverage.

Catch-up contributions for individuals age 55 or over will increase to $1,000.

If you have questions about this topic or others related to payroll issues, please contact Payroll Specialist Crystal Martin at 717-757-6999 or 800-745-8233. You can also send Crystal an email by using the form below. Visit our online Payroll Place for related payroll information.
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