The IRS announced the 2020 annual inflation adjusted limits for Health Savings Accounts (HSA) Contributions and High Deductible Health Plan (HDHP) Out of Pocket limits. The information was announced in Rev. Proc. 2019-25.
Please reference the table below for specific details:
|HSA Maximum Contribution – Single||$3,500||$3,550|
|HSA Maximum Contribution – Family||$7,000||$7,100|
|HSA Catch Up (55 years or older)||$1,000||$1,000|
|Minimum Deductible – Single||$1,350||$1,400|
|Minimum Deductible – Family||$2,700||$2,800|
|Out of Pocket Maximum – Single||$6,750||$6,900|
|Out of Pocket Maximum – Family||$13,500||$13,800|
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*Be advised that the information contained in this article is intended for educational purposes and to provide a general understanding of the law, not to provide specific legal advice.