What is the maximum amount I can contribute for 2008 to my Medical Savings
Account (MSA)?

          Your High Deductible Health Plan* (HDHP) coverage is for:    Self-Only
                                                                                                           Family
                                                    Your HDHP deductible for 2008:  $ 
        Number of whole months your HDHP will be in force during
                                             2008 and you were eligible for MSA
                                                (Enter a value between 0 and 12):     
                           

*FOR TAX YEAR 2008
A high deductible health plan (HDHP) is defined as one having an:

Annual deductible amount of:
  • $1,950 to $2,900 for Self-Only coverage
  • $3,850 to $5,800 for Family Coverage
Annual out-of-pocket expense maximum of:
  • $3,850 for Self-Only coverage
  • $7,050 for Family coverage


For Self Only coverage, annual contributions to the MSA may be made up to 65% of the HDHP's annual deductible amount.

For family coverage, the maximum contribution is 75% of the HDHP's annual deductible amount.

PLEASE NOTE: The accuracy of this calculator and its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals. State Farm is providing this software "as is" without any warranty of any kind, either expressed or implied, including without limitation the implied warranties of merchantability and fitness for a particular purpose. Any risk arising out of use or performance of this software remains entirely with the user. Under no circumstances will State Farm be liable for any damages whatsoever arising out of the use or performance of this software.


   

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