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Merritt Personal Lines Manual: Additional contribution.

For 2006, if you are an eligible individual who is age 55 or older, your contribution limit is increased by $700. For example, if you have self-only coverage, you can contribute up to the amount of your annual health plan deductible plus $700, but not more than $3,400. However, see Enrolled in Medicare, later.

Example.

In 2006, you have an HDHP for your family for the entire months of July through December. The annual deductible of the HDHP is $4,000. You reach age 55 on September 5, 2006. On the worksheet for line 3, you would show $4,700 for 6 months (July through December). You divide this total ($28,200) by 12 to determine your contribution limit ($2,350) for the year.

For 2007, the additional contribution amount is $800.

If you have more than one HSA in 2006, your total contributions to all the HSAs cannot be more than the limits discussed earlier.

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