The New Year is now just weeks away and with it will come the phone calls and emails from your clients asking about the new contribution limits for health savings accounts (HSA). This year, get out ahead of the inquirers and send a link to this article to your clients who have HSAs. They will thank you for it.

For the past two years HSA contribution limits have remained static with the single contribution set at $3,050; $6,150 for families, and an additional $1,000 catch-up contribution for those 55, and older. However, contribution limits will once again change for 2012, as dictated by the results on an annual calculation for inflation factors.

For calendar year 2012, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan will be $3,100. The annual limitation on deductions for an individual with family coverage under a high deductible health plan is $6,250. The catch-up contribution for those 55 or older will remain at $1,000. This should be great news to people who want to maximize their pre-tax savings and invest more for their future healthcare needs.