The Benefits Brief...
Top Ten Hot Tips For HSAs

Janet LeTourneau
July 2014 Issue

Here’s a “Top Ten” list of reasons why employers and employees should establish health savings accounts (HSAs).

  10  HSA-eligible high-deductible health plans can save premiums for employers and employees.

 9  HSAs belong to the account holder and are retained by the participant when changing jobs.

  8 HSA contributions are non-taxable.

  7 HSA growth through interest and dividends is non-taxable.

  6 Disbursements for qualified medical expenses are non-taxable.

 5 There is no dollar limit to the amount that may accumulate in an HSA.

  4 The maximum annual contribution may be deposited into an HSA even if it is established mid-year.

 3 HSAs roll over from year to year. Funds can accumulate for expenses incurred during retirement.

  2 Anyone, including both the employer and the employee, can contribute to an individual’s HSA during the year.

  1 HSAs’ indexed figures are released earlier than any other benefits’. Here are the 2015 HSA limits:



Health Savings Account                                     2014         2015

Minimum deductible for the qualifying high-deductible health plan (HDHP)

 Individual Coverage                                             $1,250      $1,300

 Family Coverage                                                 $2,500       $2,600

Maximum Contribution Levels

 Individual Coverage                                             $3,300      $3,350

 Family Coverage                                                $6,550       $6,650

 Catch Up Contribution for Those 55 and Over    $1,000       $1,000

Maximum for HDHP out-of-pocket expenses

 Individual Coverage                                             $6,350      $6,450

 Family Coverage                                                $12,700    $12,900

Congress mandates that cost-of-living adjustments for HSAs must be released by June 1 of every year. The early release of HSA minimums and maximums each calendar year ensures that plan sponsors and their employees have ample time to review plan design options and prepare brochures and educational materials ahead of open enrollment.

The information in this article is not intended to be legal, accounting, or other professional advice. We assume no liability whatsoever in connection with its use, nor are these comments directed to specific situations.

Author's Bio
Janet LeTourneau, ACFCI
ACFCI is the Director of Compliance Services at WageWorks. She draws upon more than 25 years of experience with flexible benefits plans and tax laws to perform consulting services and monitor quality control. LeTourneau is a frequent speaker to employer groups and conferences and was formerly on the board of directors for the Employers Council on Flexible Compensation (ECFC) and is a current member of the ECFC Technical Advisory Committee (TAC). She is the lead instructor for the Section 125 administrators training workshop. LeTourneau was one of the first people in the country to earn the Advanced Certification in Flexible Compensation Instruction designation sponsored by the Employers Council on Flexible Compensation. She is a certified trainer in the ACFC program. LeTourneau can be reached by telephone at 262-236-3021 or by email at