The HSA catch-up contribution limit is not reduced for the year in which the individual reaches age 55 if he or she reaches age 55 after Jan. 1. For example, an individual who is HSA-eligible for all of 2015 and who turns age 55 on Dec. 1, 2015, may make a full $1,000 catch-up contribution for 2015.
Declassification may also occur automatically by (1) occurrence of the date or event specified by the original classification authority, or (2) expiration of the maximum time frame for duration of classification established under E.O. 13526, usually 25 years from origination (see 5 FAM 485, below).
As part of the settlement, Impax said it would be permitted to launch a generic Welchol tablet on March 2, 2015 â or earlier under certain circumstances. The settlement also allows for a release of generic Welchol in two oral suspension strengths, 1.875 grams per packet and 3.75 grams per packet, but those terms were not disclosed Thursday.