- For a health plan to be considered an HSA-eligible health plan, the minimum deductible must be at least $1,2001 (self-only coverage) or $2,4001 (family coverage).
- Annual out-of-pocket costs (including deductibles and co-pays) generally cannot exceed $5,9501 (self-only coverage) or $11,9001 (family coverage).
- HSA-eligible health plans can have no deductible for certain types of services or treatments (such as preventive care and other permitted dental and vision expenses) and higher out-of-pocket limits for non-network services. Based on information from the U.S. Department of Treasury.
Health Savings Accounts
Bank of America makes available The HSA for Life® Health
Savings Account ("HSA") as custodian only. The HSA is intended to
qualify as a Health Savings Account as set forth in Internal Revenue
Code Section 223. However, you are solely responsible for ensuring that
you satisfy the HSA eligibility requirements set forth in Section 223.
If you establish an HSA and you are not otherwise eligible, you will be
subject to adverse tax consequences. We recommend that you contact
qualified tax or legal counsel before establishing an HSA.
These amounts are subject to annual cost-of-living adjustments. The amounts listed are in effect for 2010.