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Here are some of the features of HSAs:
- HSAs must be paired with a high-deductible health plan (HDHP)
- IRS defines HDHP-deductible of at least $1,000 single and $2,000 family and out-of-pocket limits of $5,000 single, $10,000 family
- HSA maximum contributions are set by law-$2,600 annually for singles and $5,150 for families
- HSA contributions can be made by the employer or the employee's family members
- Employer contributions to HSAs are voluntary
- Ownership of the HSA may transfer to the spouse upon death of the employee
- HSAs allow rollover of unused funds from year to year
For a complete description of rules, see IRS Publication 969.
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