Legal Alert: IRS Announces Increases in HSA Contributions for 2009

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The Internal Revenue Service (IRS) has announced that the maximum contributions that can be made to Health Savings Accounts (HSAs) will increase for 2009. According to a statement released by the IRS on May 14, 2008, the maximum contributions for 2009 will be as follows:

Single Coverage - $3,000 (up from $2,900 for 2008)

Family Coverage - $5,950 (up from 5,800 for 2008).

See full alert for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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