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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.