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New Health Savings Account (HSA) Limits Announced for 2025

The IRS has released Revenue Procedure 2024-25, which provides information on the limits for Health Savings Accounts (HSAs) for the 2025 calendar year. The annual contribution limit on deductions for individuals with self-only coverage under a high deductible health plan will be $4,300 (up $150 from 2024). The contribution limit for an individual with family coverage will be $8,550 (up $250 from 2024). Please note that the catch-up contribution limit, available to individuals who are 55 and older, remains at $1,000 per year.

Minimum Deductible for HDHP:
In order for a health insurance plan to be considered a “High Deductible Health Plan” for 2025, the deductible must be at least $1,650 (up $50) for self-only coverage and $3,300 (up $100) for family coverage.

Maximum Out-of-Pocket:
For 2024, out-of-pocket expenses may not exceed $8,300 (up $250) for self-only coverage and $16,600 (up $500) for family coverage.

These changes will go into effect for calendar year 2025. Please note that these limits are subject to change.  

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