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Contribution Limits & IRS Guidelines

Maximum Contributions

The 2009 contribution limits are $3,000 for single plan coverage and $5,950 for family plan coverage.

2009 IRS Limits
Single Plan Family Plan
Minimum Deductible $1,150 $2,300
Maximum Out-of-pocket $5,800 $11,600
Maximum Contribution Limit $3,000 $5,950
Catch-up Contribution (55+) $1,000 $1,000

The IRS has released the limits for 2010.  Please see the limits below for 2010.  

2010 IRS Limits
Single Plan Family Plan
Minimum Deductible $1,200 $2,400
Maximum Out-of-pocket $5,950 $11,900
Maximum Contribution Limit $3,050 $6,150
Catch-up Contribution (55+) $1,000 $1,000

HSA-compatible Health Plans

The IRS sets annual requirements for the minimum deductible and maximum out-of-pocket expense for HSA-compatible health plans. Verify with your health plan representative that your health plan is compatible.

Catch-up Contributions

Individuals over 55 can make catch-up contributions directly through Internet Banking or by mailing a personal check.

Excess Contribution Removal

If you exceed the maximum contribution amount for a given year, you can remove the excess funds by your tax filing deadline, typically April 15, without tax penalty. To remove an excess contribution, please complete the Excess Contribution Removal Form and mail it to HSA Bank.

If excess funds are not removed by your tax filing deadline, you may be subject to tax penalties and/or IRS fees.

Transfer or Rollover Funds to Your HSA

  • Unused FSA or HRA funds may be rolled into your HSA on a one-time basis. Please contact your employer for specific details.
  • A one-time rollover from an IRA to an HSA is allowed up to the annual HSA contribution maximum. Please contact your tax advisor to discuss the benefits and tax reporting requirements.


cost of healthcare

Examples of Prorating Contributions
Prorating is required to avoid tax penalties when an individual does not maintain HSA-compatible coverage through December 31st of the following year.

Coverage Type Coverage Begins Coverage
Ends		 Allowed 2009 Contribution
Individual 1/1/2009 12/31/2009 $3,000
Individual 7/1/2009 12/31/2010 $3,000
Individual 7/1/2009 4/1/2010 $1,500
(6/12 of Max.)
Individual 11/1/2009 11/1/2010 $500
(2/12 of Max.)

Mid-year Coverage
If your new HSA-compatible coverage begins in July of a given year, you are eligible to contribute the maximum amount for that year provided that you maintain coverage until December 31st of the following year.

Health Plan Status Change
If you begin the year with family coverage and switch to single coverage in July of that year, you are eligible to contribute half of the family coverage contribution maximum and half of the individual coverage contribution maximum.