Health Savings Account Contribution Limits of 2013

Each year the Federal government reviews the HSA contribution limits. The maximum permitted contribution to the HSA on behalf of an individual with single coverage is $3,250. For an individual with family coverage, the maximum is $6,450. Individuals who attain age 55 before the close of 2013 are eligible to make an additional contribution of $1,000. If you already have an HSA but are not contributing the annual maximum, you can increase your contribution up to the annual maximum at any time. If you are enrolled in a qualified High Deductible Health Plan eligible for an HSA, you should consider setting up an account to take advantage of the tax savings.