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IRS Announces 2020 HSA/HDHP Limits

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Volume 42 | Issue 49

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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

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