IRS Releases 2020 HSA and HDHP Limits
The IRS has announced that all 2020 inflation-adjusted amounts for health savings accounts (HSAs) and high-deductible health plans (HDHPs) will increase from 2019 levels. The HSA catch-up contribution is set by statute and is not indexed for inflation after 2009. The table below shows the limits for 2018-2020.
| HSA & HDHP LIMITS | 2020 | 2019 | 2018 |
|---|---|---|---|
| Self-only coverage | |||
| Maximum tax-deductible/tax-free HSA contribution | $3,550 | $3,500 | $3,450 |
| HDHP minimum annual deductible | $1,400 | $1,350 | $1,350 |
| HDHP in-network out-of-pocket maximum | $6,900 | $6,750 | $6,650 |
| Family coverage | |||
| Maximum tax-deductible/tax-free HSA contribution | $7,100 | $7,000 | $6,900 |
| HDHP minimum annual deductible | $2,800 | $2,700 | $2,700 |
| HDHP in-network out-of-pocket maximum | $13,800 | $13,500 | $13,300 |
| HSA catch-up contribution limit at age 55 or older | $1,000 | $1,000 | $1,000 |
ACA out-of-pocket maximums are higher. As announced by the Department of Health and Human Services in April, the 2020 out-of-pocket maximums for nongrandfathered group health plans under the Affordable Care Act (ACA) — $8,150 for self-only and $16,300 for other coverages — are higher than 2020 HDHP out-of-pocket maximums.
Additional articles from the June 2019 edition of the Univest Employee Benefits Newsletter:
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