Thursday, May 21, 2009

Health Savings Account (HSA) Contribution Limits Announced by IRS for 2010

The IRS has recently announced new HSA contribution limits for 2010
Individuals $3,050
Family $6,150

Keep in mind, this is the only financial instrument that contains all three components of tax deduction, tax deferral, and tax free withdrawals.

A family in the 30% tax bracket would save $1,845 in taxes if they contributed the maximum amount of money into their HSA account.

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