Contribution Limits
To be eligible to contribute to a Health savings account you must be covered by a high deductible health insurance policy. You cannot be covered by any other policy, including Medicare, Tricare, or a spouse’s Flexible Spending Arrangement (FSA). The contribution limits are set by the IRS each year and are indexed to the Consumer Price Index. Your maximum allowable contribution is determined by the limits set by the IRS for that year, your insurance coverage (i.e. Family or Single), and your age. Taxpayers age 55 or older are entitled to a catch-up contribution.
| Contribution Limits | 2009 |
|---|---|
| Single | $3,000 |
| Family (all non-single policies) | $5,950 |
| Catch-up (for those age 55 or older at any time in the tax year) | $1000 |