IRS Issues 2020 Indexed Amounts for HSAs
The maximum HSA contribution for 2020 is $3,550 for single HDHP coverage
and $7,100 for family HDHP coverage. The HSA contribution limits for 2020 are
$50 higher for single HDHP coverage and $100 higher for family HDHP coverage.
The minimum annual deductible limits for 2020 also changes.
deductible limit for single coverage for 2020 is $1,400 and the minimum deductible limit for family coverage is $2,800. The maximum annual out-of-pocket expense limit for single coverage for 2020 increases to $6,900 from $6,750 and the out-of-pocket expense for family coverage increases to $13,800 from $13,500. On May 28, 2019, the Treasury Department and Internal Revenue Service issued
new guidance on the maximum contribution levels for Health Savings Accounts (HSAs) and out-of-pocket spending and deductible limits for High Deductible Health plans (HDHPs) that must be used in conjunction with an HSA. The HSA 2020 limits are set forth in IRS Revenue Procedure 2019-25.