Benefits Buzz – July 2019

IRS Releases Inflation-adjusted Limits for HSAs and HDHPs for 2020

On May 28, 2019, the IRS released Revenue Procedure 2019-25 to announce the inflation-adjusted limits for health savings accounts (HSAs)and high deductible health plans (HDHPs) for 2020. These limits include:

The maximum HSA contribution limit

The minimum deductible amount for HDHPs

The maximum out-of-pocket expense limit for HDHPs

These limits vary based on whether an individual has self-only or family coverage under an HDHP.

HSA Contribution Limits for 2020

The IRS limits for HSA contributions increase for 2020. Eligible individuals with self-only HDHP coverage will be able to contribute up to $3,550 for

To continue reading or to download a complete copy of this report please click here.

Leave a Reply

Your email address will not be published. Required fields are marked *