2020 HSA Contribution Limits

December 19th, 2019 by Thomas Harte

With the delivery of the IRS Revenue Ruling 2019-22, contributions toward health savings accounts (HSAs) for CY 2020 will increase for plan participants.

• Maximum HSA Contributions:
  • Single:  $3,550 (up from $3,500 in 2019)
  • Family:  $7,100 (up from $7,000)
• Minimum Deductible to qualify an HDHP as eligible for HSA Contributions (no changes from 2018):
  • Single:  $1,400
  • Family:  $2,800
• Maximum Out of Pocket Expense:
  • Single:  $6,900 (up from $6,750)
  • Family:  $13,800 (up from $13,500)
• Catch up Contributions:  $1,000 for those over the age of 55

For any questions regarding Health Savings Accounts, please contact one of the experts at Landmark Benefits.