Upcoming Tax Change for 2013 -2015; Health Savings Accounts

The IRS has changed the inflation adjusted annual limitation for the health savings accounts for next year.

 

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Click here for the details of the new tax code: Revenue Procedure 2013-15. The annual limitation on deductions under Section 223(b)(2)(A) of the Tax Code for an individual with self-only coverage under a high-deductible health insurance plan is $3,300.

For calendar year 2014, the annual limitation on deductions under Section 223(b)(2)(B) for an individual with family coverage under a high-deductible health insurance plan is $6,550.

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We will keep you updated on new changes in the tax code as they become available.