If you are a client of Jarus & Co you know that we are proactive CPA’s who attempt to find all applicable deductions for our accounting clients. We love HSA accounts because they are effectively a loophole allowing certain taxpayers to deduct their “out of pocket” healthcare expense. Typically these are not allowed as a deduction given few taxpayers have out of pocket healthcare expense exceeding 10% of their AGI. That’s right 10% of AGI!!!! Unless they had some serious and expensive healthcare problems taxpayers were forced to forgo deductions for out of pocket healthcare expense.
The below charge is meant to help you navigate the limits for 2013, 2014 and 2015. If you are interested in learning more about how the HSA account can help you deduct your out of pocket healthcare expense please feel free to call and setup an appointment with one of our CPAs.
Health Savings Accounts (HSAs):
|Health savings accounts (HSAs):|
|Self-only coverage:||Contribution limit||$3,350||$3,330||$3,250|
|Plan minimum deductible||$1,300||$1,250||$1,250|
|Plan out-of-pocket limit||$6,450||$6,350||$6,250|
|Family coverage:||Contribution limit||$6,650||$6,550||$6,450|
|Plan minimum deductible||$2,600||$2,500||$2,500|
|Plan out-of-pocket limit||$12,900||$12,700||$12,500|
|Additional contribution limit—age 55 or older at year-end||$1,000||$1,000||$1,000|
|Source:||Rev. Proc. 2014-30||Rev. Proc. 2013-25||Rev. Proc. 2012-26|