The IRS has released Revenue Procedure 2019-25, setting dollar limitations for health savings accounts (HSAs) and high-deductible health plans (HDHPs) for calendar year 2020. The contribution, deductible, and out-of-pocket limitations for the current year are included in the table below for reference.
| Contribution and Out-of-Pocket Limits for Health Savings Accounts and High Deductible Health Plans | ||||
| For 2020 | For 2019 |
Change from 2019-2020 |
||
| HSA Annual Contribution Limits |
Individual: $3,550 Family: $7,100 |
Individual: $3,500 Family: $7,000 |
Individual: $50 |
|
| HDHP Minimum Deductibles (definition available here) |
Individual: $1,400 Family: $2,800 |
Individual: $1,350 Family: $2,700 |
Individual: $50 |
|
| HDHP Out-of-Pocket Maximums (definition available here) |
Individual: $6,900 Family: $13,800 |
Individual: $6,750 Family: $13,500 |
Individual: $150 increase Family: $300 increase |
|
For guidance on HSAs, please review the IRS frequently asked questions page at https://www.irs.gov/publications/p969/ar02.html.
This blog post should not be considered as legal advice.
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