2007 Limits have been announced - click here for complete details

With the release of the August 2006 inflation figures, the inflation-adjusted amounts for health savings accounts (HSAs) for 2007 are now known, says Roy Ramthun, President of HSA Consulting Services.  “We now know all the data points to calculate 2007 numbers for HSAs.  The maximum HSA contribution (not including catch-up contributions) will be $2,850 for self-only coverage, and $5,650 for family coverage in 2007.”  The annual catch-up contribution for individuals age 55 or older is set by statute and will be $800 per person for 2007.

Ramthun says that for insurance plans offering HSA-qualified high deductible health plans, “The minimum deductible for HSA-qualified high deductible health plans (HDHPs) will be $1,100 for self-only coverage and $2,200 for family coverage policies.  The out-of-pocket maximums in 2007 will be $5,500 for self-only policies and $11,000 for family coverage policies.

Now that these figures are known, companies can finalize their 2007 plans, even though the official inflation adjusted amounts for HSAs will not be published by the IRS until later this fall, says Ramthun.