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IRS Releases 2020 HSA Adjustments

SIMA Financial Group > Benefits  > IRS Releases 2020 HSA Adjustments

IRS Releases 2020 HSA Adjustments

The IRS has released the 2020 inflation adjustments affecting Health Savings Accounts and High Deductible Health Plans. The 2020 IRS HSA limits are as follows:

ITEM 2019 2020
Annual Contribution Limit – Individual $3,500 $3,550
Annual Contribution Limit – Family $7,000 $7,100
Annual Catch-Up Contribution Limit (Age 55 to 65) $1,000 $1,000
Minimum Deductible for HDHP – Individual $1,350 $1,400
Minimum Deductible for HDHP – Family $2,700 $2,800
Maximum Out-Of-Pocket for HDHP – Individual $6,750 $6,900
Maximum Out-Of-Pocket for HDHP – Family $13,500 $13,800