January 1, 2010

Q: How much can I put into my Health Savings Account in 2008?

A: The maximum contribution for 2008 is $2900 if you are single coverage or $5,800 if you have family coverage. If you are over age 55 then an additional contribution of $900 regardless of whether you have single or family coverage.

Note that these amounts are the maximum you may deposit into a HSA in 2008. This is not to be confused with the HSA account balance that is not limited and may accumulate to a much larger amount.

Also, these HSA contribution limits have nothing to do with the insurance costs or policy limits that are governed separately. For more information on low cost insurance to pair with HSA accounts, including pricing, policy limits and online enrollment, see www.celticenrollment.com.

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