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Compliance Briefing Center

Regulatory Updates

{Making it Easier for You
to Manage Benefits}

IRS Announces Increased 2020 Contribution Limits

 

The IRS released the new Health Savings Account (HSA) contribution limits for 2020. The 2020 index includes increases to most HSA amounts. The IRS provides this early release to help plan sponsors and participants budget for the upcoming year. See the table below for details.

2020 Health Savings Account Contribution Limits

  2019 2020
Minimum deductible amounts for the qualifying high-deductible health plan (HDHP)
Individual Coverage $1,350 $1,400
Family Coverage $2,700 $2,800

 

Maximum contribution levels
Individual Coverage $3,500 $3,550
Family Coverage $7,000 $7,100
Catch-up contribution allowed for those 55 and over $1,000 $1,000

 

Maximums for HDHP out-of-pocket expenses
Individual Coverage $6,750 $6,900
Family Coverage $13,500 $13,800

For reference, here is a chart containing historical HSA index figures dating back to 2005.