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Like many other tax provisions, the HSA rules include amounts that are
adjusted annually for inflation. But because of the Tax Relief and Health Care
Act of 2006, HSA adjustments are now announced earlier than others, giving
employers and health plans sufficient time to incorporate the changes before
the annual benefits enrollment season arrives in the fall. Thus, the IRS recently
announced the 2009 HSA inflation adjusted amounts, which are as follows:
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2009
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2008
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| Self-Only Coverage:
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Contribution limit .................... $3,000 ......... $2,900
Plan Min. deductible ................. 1,150 ........... 1,100
Plan out-of-pocket limit ............. 5,800 ........... 5,600
Family Coverage:
Contribution limit ....................$ 5,950 ......... $5,800
Plan Min. deductible ................. 2,300 ........... 2,200
Plan out-of-pocket limit ........... 11,600 ......... 11,200
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GAO Report on HSAs. As the 2009 amounts were released, the Government
Accountability Office (GAO) issued a report to Congress on various aspects of
the HSA program. Highlights of the report include:
- The number of individuals covered by HSAs has increased significantly
from about 438,000 in 2004 to about 6.1 million in 2008.
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Many individuals eligible to open an HSA do not. From 2005 to 2007, 42-
49% of high deductible health plan enrollees reported that they had not
opened an HSA. 20-24% said they did not plan to open one because they
didn’t think they needed it, or they couldn’t afford it.
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In 2005, the average AGI of taxpayers with HSA activity was $139,000,
compared to $57,000 for other filers.
Congress continues to debate the impact high deductible health plans and
HSAs are having on individuals’ ability to afford health care. Some claim they
shift the risk of health care from employers and insurers to individuals who
cannot afford it. On the other hand, some claim they have enabled many small
businesses to offer their employees health care that otherwise would not have
been available.
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