The Internal Revenue Service just released the 2011 cost-of-living-adjusted HSA limits.

HSA contribution limits — along with high-deductible health plan (HDHP) deductibles and out-of-pocket maximums — will stay the same as 2010:

• The annual HSA contribution limit for employee-only coverage will remain $3,050 ($6,150 for family coverage).
• The minimum deductible for employee-only HDHP coverage will remain $1,200 ($2,400 for family coverage)
• The limit on maximum out-of-pocket expenses (including deductibles, co-pays and co-insurance — but not premiums) for employee-only coverage will remain $5,950 ($11,900 for family coverage).
• The catch-up contribution limit (for individuals who are 55 or older) will remain $1,000.

One change that will occur in 2011: The 10% penalty on taxable, non-medical distributions will increase to 20%.

Tags: HDHP, high-deductible health plan, HSA, HSA contribution limits, internal revenue service, IRS, penalty