Written by Michael G. Kirwan, ChFC, CLU
Published Spring 2012


To our Valued HSA/MSA Clients:

We are pleased to inform you of yet another major enhancement to your HSA/MSA Program regarding your ability to make “Tax Deductible” contributions for 2012 and beyond.

HSA/MSA Plan participants will be now permitted to contribute up to:

2011* 2012
Single Participant $3050 $3100
All Others $6150 $6250

*2011 Contributions available until 3/15/12 for C Corporations and 4/15/12 All Others, plus extensions

Additionally, there is an “Optional Spousal HSA” and, much like Retirement Plans, there is an optional “Catch–Up” provision for those age 55 and older, as follows:

  • 2011 Spousal HSA $1000
    Catch–Up Provision: $1000
  • 2012 Spousal HSA $1000
    Catch–Up Provision: $1000

(In tax years prior to 2009, your ability to maximize your HSA/MSA contributions was limited to the amount of your deductible.)

Keep in mind that your Contribution is 100% Tax Deductible, it remains in your account for future use and is “Tax–Free”, when withdrawn for Medical/Dental and an assorted number of other benefits, including premiums for “Long Term Care.”

Refer to IRS Publication 502, which can be found under the Resources tab of our dedicated HSA web site.

We are including our list of Products & Services and would welcome the opportunity to be of additional assistance to your Group or personally, for you and your family.

Thank you again for the privilege
and confidence of your business.