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1.422 -Health Savings Accounts
| Item | Description | FY2011 | FY2012 | FY2013 |
|---|---|---|---|---|
| 1.422 | Health Savings Accounts
Massachusetts adopted the federal deduction allowed to individuals for contributions to a Health Savings Account, subject to federal limitations, which are adjusted annually for inflation. For calendar year 2012, the maximum deduction limit is $3,100 for an individual plan and $6,250 for a family plan. The maximum additional deduction for individuals age 55 or older is $1,000. Origin: IRC S. 62(a)(19) and 223 Estimate: $12.3 |
7.3 | 9.7 | 12.3 |
Key:
| ORIGIN | |
| IRC | Federal Internal Revenue Code (26 U.S.C.) |
|---|---|
| U.S.C | United States Code |
| M.G.L. | Massachusetts General Laws |
| Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
| ESTIMATES | All estimates are in $ millions. |
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