2020 Limits for Health Savings Accounts and High Deductible Health Plans plblackwell@me…
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 or contact your MedCost Account Manager.