HSA Updates for 2020

Here are the IRS announced maximum limits for Health Savings Accounts (HSA) and the required (qualified) High Deductible Health Plans (HDHP) for 2020…

2018

2019

2020

HDHP MINIMUM DEDUCTIBLE
Individual $1,350 $1,350 $1,400
Family $2,700 $2,700 $2,800
HDHP OUT-OF-POCKET MAXIMUM
Individual $6,550 $6,750 $6,900
Family $13,300 $13,500 $13,800
HSA MAXIMUM CONTRIBUTION
Individual $3,450 $3,500 $3,550
Family $6,900 $7,000 $7,100
CATCH-UP CONTRIBUTIONS (age 55 and older) $1,000 $1,000 $1,000
Readers interested in an overview of HSAs and HDHPs can click on the following link –
https://smstevensandassociates.com/health-savings-accounts-hsas-summary-overview/

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