IRS Releases HSA and HDHP Limits for 2014

May 2013

The IRS has released the 2014 limits affecting HSAs and High Deductible Health Plans (HDHPs). The minimum required deductibles will not change from the 2013 limit, but the HSA contribution limits and the HDHP out-of-pocket (OOP) maximums will increase for 2014.

Effect on ACA Cost Sharing Limits

The OOP maximum is of particular importance this year since the Affordable Care Act (ACA) restricts all group health plans OOP maximums to the level set by these rules for HSA qualified HDHP plans.

For plan years beginning in 2014, cost-sharing limits cannot exceed the maximum OOP limits published for HSA-compatible HDHPs. This overall cost-sharing limitation applies to all non-grandfathered group health plans; both fully insured and self-funded.

2014 Limits

HSA Contribution Limits

  • Annual HSA contribution limit for self-only HDHP coverage is $3,300 (a $50 increase from 2013)
  • Annual HSA contribution limit for individuals with family HDHP coverage is $6,550 (a $100 increase from 2013)

 HDHP Minimum Required Deductibles (unchanged from 2013)

  • The  minimum annual deductible for self-only HDHP coverage is $1,250
  • The minimum annual deductible for family HDHP coverage is $2,500

HDHP Out-of-Pocket Maximums

  • The maximum limit on out-of-pocket expenses for self-only HDHP coverage is $6,350 (a $100 increase from 2013)
  • The maximum limit on out-of-pocket expenses for family HDHP coverage is $12,700 (a $200 increase from 2013).

Download as MS Word .doc

Download as .pdf

 

While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept  liability  for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it. This publication is distributed on the understanding that the publisher is not engaged in rendering legal, accounting or other professional advice or services. Readers should always seek professional advice before entering into any commitments.