How much may be contributed to an HSA in calendar year 2006?
For plans with coverage effective Jan 1, 2006:
- Individual: Either your plan deductible or $2,700; whichever is LESS
- Family: Either your plan deductible of $5,450; whichever is LESS
For Plans with coverage effective after Jan 1, 2006:
- The contributions are pro-rated based upon the number of whole months covered under the qualified insurance plan. 1/12 for every month. i.e if coverage begins in November, only 2/12ths of the maximum amount is permitted.
- While annual contributions are limited based upon the deductible, there is no maximum limit on the accumulated balance of the trust account.