Posted by
IQ HSA on Tuesday, February 20, 2007 4:50:57 PM
2007 brings some exciting changes to the benefits of the HSA.
- Individual maximum contribution is $2,850 and the family maximum contribution is $5,650.
- The catch-up contribution for eligible participants over the age of 55 is $800.
- You are now able to contribute the maximum contribution no matter which High Deductible Health Plan (HDHP) deductible you choose.
- You are able to make the maximum contribution as long as you have the qualifying HDHP in place sometime during the plan year.
- The IRS allows you to roll-over unused funds from an Flexible Spending Account (FSA) or Health Reimbursement Account (HRA) on a one-time basis.
- The IRS allows for a one-time roll-over from an IRA into an HSA up to the annual maximum limit.