The Internal Revenue Service has published the 2009 inflation-adjusted deduction limits for health savings accounts.
For calendar year 2009, the annual limitation on deductions for an individual with self-only coverage under a high-deductible health plan is $3,000. For 2009, the annual limitation on deductions for an individual with family coverage under a high-deductible health plan is $5,950.
For 2009, 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 the 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.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access