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Use this worksheet to determine your maximum allowable annual contribution. The worksheet is meant as a reference tool only. BB&T is not liable for excess contributions as a result of the calculations below.
The maximum allowable contribution to a Health Savings Account (HSA) is set by Federal law. For single coverage in 2009, the annual contribution limit is $3,000. For family coverage, the annual contribution limit is $5,950.
Answer the questions below to determine your maximum allowable annual contribution. Please remember that to qualify for an HSA you must be enrolled in a High Deductible Health Plan (HDHP). An HDHP has a deductible of at least $1,150 for single coverage, or at least $2,300 for family coverage.
*If you are married and your spouse is also eligible for an HSA, your contribution limit is split equally between the two of you unless you agree to a different division. If your type of coverage changes during the year, your maximum annual contribution must be prorated to reflect the different coverage levels in effect during the year. If you are 55 or older or will reach 55 in the current year you may be eligible to make a catch-up contribution, please consult your tax advisor.
This Maximum Contribution Worksheet is written to support the promotion and marketing by BB&T of
health savings accounts and is not intended to be used, and cannot be used, for the purpose of
avoiding U.S. federal tax-related penalties. Each taxpayer is responsible for determining eligibility
and calculating the correct maximum contribution for a calendar year. Each taxpayer should seek
advice based on individual circumstances from an independent tax advisor.
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