|Maximum annual contribution||MAXIMUM_ANNUAL_CONTRIBUTION|
|Owner's catch-up contributions||OWNER_CATCH_UP_CONTRIBUTION|
|Spouse's catch-up contributions||SPOUSE_CATCH_UP_CONTRIBUTION|
|Total allowable HSA contribution for current year||TOTAL_ALLOWABLE_CONTRIBUTION|
|Your Estimated Tax Savings||TOTAL_TAX_SAVINGS|
|First full month your HDHP was in effect||PLAN_FIRST_FULL_MONTH|
|Type of HDHP coverage||TYPE_OF_INSURANCE_COVERAGE|
|HDHP deductible amount||INSURANCE_DEDUCTIBLE_AMOUNT|
|Marginal income tax rate**||FED_TAX_RATE|
|You will be 55 older this year||PLAN_OWNER_FIFTYFIVE|
|Your spouse will be 55 or older this year*||PLAN_SPOUSE_FIFTYFIVE|
|Change of coverage type during the year||CHANGE_IN_COVERAGE|
|First full month your new coverage was in effect||CHANGE_FIRST_FULL_MONTH|
|New HDHP deductible amount||NEW_DEDUCTION_AMOUNT|
|New type of HDHP coverage||NEW_TYPE_OF_COVERAGE|
|Loss of your HDHP during the current year||LOST_COVERAGE|
|Last full month your plan was in effect||MONTH_LOST_COVERAGE|
* By checking the box you are indicating your spouse is 55 or older this year and that they are eligible to contribute into an HSA.
** Your marginal tax rate is used to calculate your potential tax savings. We assume that all contributions receive a tax deduction at the tax rate you enter here.
In order to put money into an HSA you are required to have a High Deductible Health Plan (HDHP) in effect for either you or your family. A HDHP is simply health insurance that meets certain minimum deductible and maximum out-of-pocket expense requirements. In 2015, for a HDHP, the minimum deductible amount is $1,300 for self-only coverage and $2,600 for family coverage. A HDHP must also have a maximum out-of-pocket expense per year. For 2015, this maximum is $6,450 for self only coverage and $12,900 for family coverage. This maximum does not include the cost of the insurance premiums.
Please note, you are no longer eligible to make HSA contributions starting in the first month that you are eligible for and enrolled in Medicare Part A or B.
For complete details on HSAs you may wish to visit the U.S. Treasury at http://www.treasury.gov/resource-center/faqs/Taxes/Pages/Health-Savings-Accounts.aspx
|Filing Status and Income Tax Rates 2015*|
|Tax Rate||Married Filing Jointly or Qualified Widow(er)||Single||Head of Household||Married Filing Separately|
|10%||$0 - $18,450||$0 - $9,225||$0 - $13,150||$0 - $9,225|
|15%||$18,450 - $74,900||$9,225 - $37,450||$13,150 - $50,200||$9,225 - $37,450|
|25%||$74,900 - $151,200||$37,450 - $90,750||$50,200 - $129,600||$37,450 - $75,600|
|28%||$151,200 - $230,450||$90,750 - $189,300||$129,600 - $209,850||$75,600 - $115,225|
|33%||$230,450 - $411,500||$189,300 - $411,500||$209,850 - $411,500||$115,225 - $205,750|
|35%||$411,500 - $464,850||$411,500- $413,200||$411,500 - $439,000||$205,750 - $232,425|
|39.6%||over $464,850||over $413,200||over $439,000||over $232,425|
*Caution: Do not use these tax rate schedules to figure 2014 taxes. Use only to figure 2015 estimates. Source: 2014 Rev. Proc. 2014-61
Catch-up contributions are not prorated. You can deposit the entire amount into your HSA as long are 55 or older at some point during the year.
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