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2014 Inflation Adjusted For Health Savings Accounts Just Released by the Internal Revenue Service

This revenue procedure provides the 2014 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code.

SECTION 2. 2014 INFLATION ADJUSTED ITEMS
Annual contribution limitation. For calendar year 2014, the annual limitation on deductions under § ...223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,300. For calendar year 2014, the annual limitation on deductions under § 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $6,550.
High deductible health plan. For calendar year 2014, a “high deductible health plan” is defined under § 223(c)(2)(A) as a health plan with an annual deductible that is
2
not less than $1,250 for self-only coverage or $2,500 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,350 for self-only coverage or $12,700 for family coverage.

SECTION 3. EFFECTIVE DATE
This revenue procedure is effective for calendar year 2014.

2 Comments to 2014 Inflation Adjusted For Health Savings Accounts Just Released by the Internal Revenue Service:

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motor vehicle accident attorne on Monday, May 27, 2013 8:06 AM
Health savings accounts are well known for making medical expenses tax deductible and for helping people create savings for retirement with tax-free interest, similar to an IRA.thanks for the post..
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How Body Sculpting is done in Sydney on Monday, June 17, 2013 5:17 AM
Health savings accounts are well known for making medical expenses tax deductible and for helping people create savings for retirement with tax-free interest, similar to an IRA.Nice healthy post it was.
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