01/19/2007
U.S. Department of the Treasury issues Heath Savings Account guidelines for 2007--update
In last month’s issue of Broker News, we notified you of the 2007 Department of the Treasury guideline for the Maximum Annual HSA Contribution. When the article was published, the contribution was subject to "Lesser of the deductible or $2,850 single/$5,650 family." Since the article was posted, the guideline has changed. The new guideline states: "$2,850 single/$5,650 family, regardless of the deductible."
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US Treasury Guideline
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2007 |
2006 |
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Minimum HSA-Qualified HDHP Deductible
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$1,100 single/
$2,200 family |
$1,050 single/
$2,100 family
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Maximum HSA-Qualified HDHP Out-of-Pocket Maximum
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$5,500 single/
$11,000 family |
$5,250 single/
$10,500 family
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Maximum Annual HSA Contribution
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$2,850 single/$5,650 family, regardless of the deductible |
Lesser of the deductible or $2,700 single/$5,450 family |
| Additional Catch-up Contribution for Individuals 55+ |
$800 |
$700 |
For more information regarding these changes, view the HSA Basics brochure as published by the Department of the Treasury or visit the Department’s Web site.
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