2014 Health Savings Account Contribution Limits Added

Author: Rena Pirsos, XpertHR Legal Editor

The Taxation of Employee Benefits section of XpertHR's Payroll chapter has been updated to include the 2014 inflation-adjusted health savings account (HSA) contribution limitations as determined under § 223 of the Internal Revenue Code. HSAs are tax-exempt accounts used by employees to pay for medical expenses for themselves, their spouses and dependents. Employers can offer HSAs to employees who are enrolled in a high deductible health plan (HDHP).