FREQUENTLY ASKED QUESTIONS AND ANSWERS FOR
HSA
HEALTH SAVINGS ACCOUNT
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10. What options for deductibles and out-of-pocket maximums are insurers allowed to offer to employers or individual consumers?

Chart outlining the Health Savings Account deductible and out-of-pocket maximums allowed by the Health Savings Account law:
 

Health Saving Accounts

Maximum Deductable

Maximum Out-of-Pocket

Maximum HSA Deposit

Single

$1,000.00

$5,000.00

$1,000.00

$1,700.00

$5,000.00

$1,700.00

$2,600.00

$5,000.00

$2,600.00

$5.000,00

$5,000.00

$2,600.00

Family, Husband & Wife or Parent & Children

$2,000.00

$10,000.00

$2,000.00

$3,450.00

$10,000.00

$3,450.00

$5,150.00

$10,000.00

$5,150.00

$10,000.00

$10,000.00

$5,150.00

 


For those individuals 55 years old or older, the law allows an additional "catch up" deposit. Catch up deposits start at $500 in 2004 and go up by $100 each year, until the maximum catch up amount is reached, which is $1,000. If both the husband and wife are 55 or older, they could both use the catch up provision