Time & Attendance
Prevent Call Outs
Implementation & Launch
By Staff Report
May. 18, 2009
The maximum contributions that can be made to health savings accounts in 2010 will increase, as will the minimum deductible imposed by health insurance plans linked to HSAs and the maximum out-of-pocket expenses that employees can be required to pay, the Internal Revenue Service said last week.
The maximum contribution that can be made to an HSA in 2010 for employees with single coverage will be $3,050, up from $3,000 in 2009. The maximum HSA contribution for those with family coverage will rise to $6,150, up from $5,950.
Additionally, the maximum out-of-pocket expense, including deductibles, that employees can be required to pay next year will rise to $5,950 for single coverage, up from $5,800 this year, and $11,900 for family coverage, up from $11,600.
The minimum deductible of the high-deductible health insurance plan to which HSAs must be linked will increase next year to $1,200 for single coverage and $2,400 for family coverage. The current minimum deductibles are $1,150 for single coverage and $2,300 for family coverage.
The new limits that the IRS announced Thursday, May 14, reflect increases in the cost of living.
Filed by Jerry Geisel of Business Insurance, a sister publication of Workforce Management. To comment, e-mail email@example.com.
Workforce Management’s online news feed is now available via Twitter
Schedule, engage, and pay your staff in one system with Workforce.com.
federal law, minimum wage, pay rates, state law, wage law compliance
Staffing Management4 proven steps for tackling employee absenteeism
absence management, Employee scheduling software, predictive scheduling, shift bid, shift swapping
Time and Attendance8 ways to reduce overtime and labor costs
labor costs, overtime, scheduling, time tracking, work hours
Don't miss out on the latest tactics and insights at the forefront of HR.