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2010 IRS Limits For Your HSA |
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The HSA contribution limits are increasing. Effective January 1, 2010 the new contribution limits are:
The annual contribution limits for 2010 have been increased to:
- $3,050 for those with self-only coverage
- $6,150 for those with family coverage
As in previous years, you must be covered under a High Deductible Health Plan (HDHP) to qualify to make an HSA contribution. The limits defining what qualifies as an HDHP have also been increased for 2010.
- Self-only coverage must have a deductible of at least $1,200
- Family coverage must have a deductible of at least $2,400
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info@tailored-benefits.com
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The CBS Evening News (2/5, story 10, 2:25, Couric) reported, "The economic crisis in this country is affecting people in so many ways. It's even affecting their health. More than a million cancer patients are forgoing care because of the cost, even though 70 percent of them have health insurance."
ABC News (2/5, Brownstein) reported on its website that a report by the American Cancer Society and the Kaiser Family Foundation "outlined the serious financial consequences families face when a member is diagnosed with cancer. In addition to dire statistics and figures, the report featured the stories of 20 patients who have faced severe debt and other challenges in their struggle to get treatment for their disease."
Specifically, the report found that "hefty out-of-pocket expenses, high cost-sharing requirements, caps on benefits and lifetime maximums on some policies are among the factors that can contribute to financial problems and lead many people to resort to bankruptcy," according to the San Francisco Chronicle (2/6, Colliver). Of the 20 patients profiled in the report, "nine had coverage through an employer, one paid for employer coverage, seven had individual insurance, two received coverage through a state high-risk pool and one became uninsured." Debt, stress, and "delays in treatment" are among the problems the patients experienced, despite insurance coverage. "People who become too sick to work usually can continue their employer's coverage for up to 18 months by paying the full premium, but the added expense of that coverage can pose a hardship because patients often are living on a reduced income," the Chronicle noted.
Additionally, "many private insurers...have exclusionary policies and reject applicants with pre-existing health problems," the Detroit Free Press (2/5, Anstett) added. And, according to the report, titled "Spending to Survive: Cancer Patients Confront Holes in the Health Insurance System," there are "long waits and delays for Medicaid and Medicare." Moreover, "high risk pool insurance coverage that cancer patients can purchase only is available in 35 states," with most policies costing "so much, many can't buy" them.
WebMD (2/5, Zwillich) noted that a separate survey by Kaiser in 2006 found "one in five cancer patients who had insurance throughout their illnesses still used all or most of their savings. Nearly one in 10 were contacted by collection agencies.
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| If you have questions you would like addressed please contact us at: info@tailored-benefits.com |
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Tailored Benefits Solutions, LLC. • P.O Box 103 Felton, PA 17322 • Phone: 1.866.738.3566 • Fax: 717.244.7194
© 2010 Tailored Benefits Solutions, LLC. - All Rights Reserved |
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