The Internal Revenue Service announced the 2020 inflation-adjusted amounts for Health Savings Accounts (“HSA”). The annual limitation on deductions for high deductible health plans (“HDHP”) is $3,550 for an individual plan and $7,100 for a family plan.
A “high deductible health plan” is a plan with an annual deductible of not less than $1,400 for self-only coverage and a limit of $6,900 on related out-of-pocket expenses, or an annual deductible of $2,800 for family coverage and a limit of $13,800 on related out-of-pocket expenses. Read more.
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2020 |
2019 |
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Self-only |
Family |
Self-only |
Family |
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HSA Annual Contribution Limit |
$3,550 |
$7,100 |
$3,500 |
$7,000 |
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HDHP Min Annual Deductible |
$1,400 |
$2,800 |
$1,350 |
$2,700 |
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HDHP Max Out-of-Pocket Expenses |
$6,900 |
$13,800 |
$6,750 |
$13,500 |