1. Human Resources
  2. Food & Drug
  3. Grants
  4. Health Care
  5. Energy
  6. Environmental Compliance
  7. Finance
Home » Employee Benefits: Library » Newsbriefs

IRS Sets HSA, HDHP Limits for 2012

Date Posted: May 16, 2011

The IRS has issued the health savings account (HSA) and high deductible health plan (HDHP) limits for calendar year 2012. The HSA annual limits and the annual out-of-pocket expenses for HDHPs are higher than those the IRS set for 2011; the HDHP annual deductibles for 2012 are the same as those the IRS set for 2011. The IRS made the announcement in Revenue Procedure 2011-32.

The 2012 rates will be as follows:

HSAs

  • Annual limit of $3,100 on deductions for an individual with self-only coverage under an HDHP
  • Annual limit of $6,250 on deductions for an individual with family coverage under an HDHP

HDHPs

  • Annual deductible of $1,200 for self-only coverage
  • Annual deductible of $2,400 for family coverage
  • Annual out-of-pocket expenses of $6,050 for self-only coverage
  • Annual out-of-pocket expenses of $12,100 for family coverage

The IRS adjusted the rates after applying the cost of living adjustment rules under Code Section 223, which governs HSAs.

The IRS issues the rates early to allow employers and plan administrators time to apply the new rates when they prepare their plan documents and materials for the next year.

More information is available concerning the 2012 HSA and HDHP thresholds by calling Bill Duane of the IRS Office of the Chief Counsel (Income tax & Accounting), principal author of Rev. Proc. 2011-32, at (202) 622-4920. Information on HSAs and Section 223 is available by calling Leslie Paul at (202) 622-6080.


Related Publications

Employer's Handbook: Complying with IRS Employee Benefits Rules
Flex Plan Handbook
All Employee Benefits Alerts

DOT Says Only ‘Fiscal Agents’ Can Issue Plastic for Federal Employee Transit Benefit - February 14, 2013

IRS Gives Tax Break on Leave Donations to Benefit Storm Victims - November 7, 2012

Shulman to Leave IRS at End of Term - October 10, 2012

Feds Freeze Per Diem Rates for FY 2013 - September 7, 2012

Another Uptick for SIFL Rates in Second Half of 2012 - August 21, 2012


 
Online Publications

Thompson's HR Compliance Expert | Coordination of Benefits

Thompson's HR Compliance Expert | Employee Benefits Solutions

Thompson's HR Compliance Expert | Employer's Guide to Complying with IRS Employee Benefits Rules

Thompson's HR Compliance Expert | Employer's Guide to Fringe Benefit Rules

Thompson's HR Compliance Expert | Employer's Guide to HIPAA Privacy Requirements