GroupBuck_BondGroup
Buck_Illustration-35

IRS Announces 2020 HSA/HDHP Limits

par and Tags:

Volume 42 | Issue 49

Download this FYI  as a printable PDF

The IRS has released the health savings account and high-deductible health plan limits for 2020. The annual contribution limits, HDHP deductible and out-of-pocket amounts for self-only and family coverage all increased over the 2019 limits.

Background

In Revenue Procedure 2019-25, the IRS issued calendar year 2019 inflation-adjusted contribution limits for health savings accounts (HSAs) along with minimum deductible and maximum out-of-pocket (OOP) limits for high-deductible health plans (HDHPs).

The following table sets out the limits for 2020 as compared to 2019, and includes the catch-up contribution limit, which is prescribed by statute and not indexed for inflation.

2020

2019

Change

HSA statutory contribution amount

Self-only

$3,550

$3,500

+ $50

Family

$7,100

$7,000

+ $100

Catch-up contribution (age 55 or older)

$1,000

$1,000

no change

HDHP minimum deductible amount

Self-only

$1,400

$1,350

+ $50

Family

$2,800

$2,700

+ $100

HDHP maximum out-of-pocket amount

Self-only

$6,900

$6,750

+ $150

Family

$13,800

$13,500

+ $300

Réflexions liées

COVID-19: OSFI Freezes Portability Transfers

Volume 02 | Issue 06 Download this FYI as a printable PDF This FYI...

Read more on FYI

COVID-19 : le gouvernement fédéral promulgue une loi en réponse à la crise

Volume 02 | Issue 05 Download this FYI as a printable PDF Ce numéro...

Read more on FYI

COVID-19 : l’Ontario adopte des dispositions relatives aux maladies infectieuses

Volume 02 | Issue 04 Download this FYI as a printable PDF Cette édition...

Read more on FYI