According to the IRS, what are the 2012 annual contribution limits for health savings accounts for singles and families? 

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C) Single: $3,100; Family: $6,250

A) Single: $1,200; Family: $3,400

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B) Single: $2,400; Family: $4,900

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C) Single: $3,100; Family: $6,250

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Every year the HSA contribution limits are revised or remain unchanged based on the inflation rate of the previous year. 

This year the limits were raised about 1.63 percent based on the rise of the Consumer Price Index (CPI) in the previous year. This means that the contribution limit for an individual increased $50 to $3,100 and the limit for families increased $100 to $6,250. 

The catch-up provision for those age 55 and older remains at $1,000. 

Here are other details:

  • HDHP Minimum Required Deductibles: The 2012 minimum annual deductible for self-only HDHP coverage remains $1,200 and the deductible for family HDHP coverage remains $2,400.
  • HDHP Out-of-Pocket Maximum: The 2012 maximum limit on out-of-pocket expenses (including items such as deductibles, co-payments, and co-insurance, but not premiums) for self-only HDHP coverage is $6,050 (a $100 increase from 2011), and the limit for family HDHP coverage is $12,100 (a $200 increase from 2011).

    • D) Single: $4,300; Family: $8,800

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