1.422 -Health Savings Accounts
Item | Description | FY2008 | FY2009 | FY2010 |
---|---|---|---|---|
1.422 | Health Savings Accounts
Massachusetts adopts 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 2007, the maximum deduction limit is $2,850 for an individual plan and $5,650 for a family plan. The maximum additional deduction for individuals age 55 or older is $800. Origin: IRC secs. 62(a)(19) and 223 Estimate: $4.0 |
2.2 | 3.1 | 4 |
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. |
