A Health Savings Account (HSA) is a tax-exempt trust or custodial account established for the purpose of paying medical expenses in conjunction with a high-deductible health care plan.

2012 Maximum Contributions

• The individuals with self-only coverage for 2012 will have a maximum of $3,100.
• The family coverage for 2012 will have a maximum of $6,250.
• The “catch up contributions” for individuals who are at least age 55 or
  older as of December 31st will be $1000 for 2012.
• Out of pocket maximum for individuals is $6,050; for families is $12,100.
• Minimum deductible HDHP for individuals is $1,200; for families is
  $2,400.