On May 2, 2013, the IRS published Rev. Proc. 2013-25, which provides the inflation adjusted account limits for Health Savings Accounts (HSAs) for calendar year 2014. According to the Revenue Procedure, the annual contribution limitation on deductions for an individual with self-only coverage under a high deductible health plan (as defined under Section 223(b)(2)(A) of the Internal Revenue Code (the "Code")) in 2014 will be $3,300. The annual contribution limitation on deductions for an individual with family coverage under a high deductible health plan (as defined under Section 223(b)(2)(B) of the Code) in 2014 will be $6,550.

The Revenue Procedure further states that a "high deductible health plan" (as defined under Section 223(c)(2)(A) of the Code) is a health plan:

  • with an annual deductible that is not less than $1,250 for self-only coverage or $2,500 for family coverage; and
  • under which yearly out-of-pocket costs (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,350 for self-only coverage or $12,700 for family coverage.