The Contribution levels for Health Savings Accounts (HSA) have changed from 2010. Below is a list of the Index Amounts Contribution Levels for your HSA Plan.
Individuals with Self Only Coverage:
In 2011 the limit on your annual deduction under section 223(b)(2)(A) with a high deductible health plan is $3,050
Individuals with Family Coverage:
In 2011 the limit on your annual deduction under section 223(b)(2)(A) with a high deductible health plan is $6,150
What defines a High deductible health plan?
To qualify for a High deductible health plan as stated in section 223(c)(2)(A), you must meet these two criteria:
1. Your health plan must have an annual deducible no less then $1,200 for individual coverage and no less the $2,400 for family coverage.
2. All expenses other than insurance premiums can not exceed $5,950 for individual coverage or $11,900 for family coverage. Examples of other expenses are things like co payments, deductible payments and any other out of pocket expenses.