On May 21, 2020, the Internal Revenue Services (IRS) announced that Health Savings Account (HSA) contribution limits are going up ($50 for self-only & $100 for family) in 2021. The announcement was provided to give employers who sponsor high-deductible plans (HDHPs) time to ramp-up and prepare for open enrollment season later in the year.
HSA contribution limits will increase about 1.5 percent from this year at $3,500 for self-only and $7,200 for family, respectively.
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The information contained in this document is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice.