UPDATED 2008-2004 HSA LIMITATION CHART (revised 6/18/07)

[Gary Lesser]

The attached chart (a "pdf" file) was updated for the Tax Relief and Health Care Act of 2006 (H.R. 6111) on December 29, 2006. The chart was updated to reflect the 2008 inflation adjustments announced in Revenue Procedure 2007-36 on June 5, 2007.

The attached chart may be reproduced and freely distributed in its entirety by you or your financial organiation.---GSL

New_Cola_2008_REV_June_2007.pdf

[Gary Lesser]

Note. Following post does not reflect the TRHCA of 2006. See other pinned post.

Many states follow the federal tax provisions in determining state tax treatment of contributions and allow a deduction for purposes of imposition of state personal income taxes (AZ, CO, CT, DE, DC, GA, HI, ID, IL, IA, LA, MD, MI, MO, MT, NE, NM, NY, NC, NC, ND, OH, OK, OR, RI, SC, UT, VT, and WV). Some states require specific legislation to allow such a deduction. (AL, AR, CA, IN, IA, KY, ME, MA, MN, MS, NJ, PA, and WI). To date, of these latter states, AR, IN, IA, KY, MN, and MS passed such legislation. Other states impose no personal income tax so the deductibility of contributions is not an issue (AK, FL, NV, NH, SD, TN, TX, WA, and WY).

There are currently four states in which the state tax consequences of HSA participation differ from the federal tax consequences (for example, where HSA employer contributions that are excludable for federal tax purposes are required to be included in income, where interest earned on the HSA is taxed, or where deduction for state tax purposes is not available). These are: Alabama, California, , New Jersey, , and Wisconsin.

See Appendix E in the 3rd edition of the HSA Answer Book for more information. Hope this helps.