IRS Announces 2020 HSA Limits

The IRS published Revenue Procedure 2019-25 last week, specifying the 2020 HSA contribution limits.

2020 HSA Contribution Limits

2020 HSA contribution limits

  • If you have individual coverage under an HSA-qualified plan: $3,550 (up from $3,500 in 2019)
  • If you have family coverage under an HSA-qualified plan: $7,100 (up from $7,000 in 2019)

Minimum deductible for HSA-qualified plans

  • Individual coverage: $1,400 (up from $1,350 in 2019)
  • Family coverage: $2,800 (up from $2,700 in 2019)

Maximum out-of-pocket for HSA-qualified plans

  • Individual coverage: $6,900 (up from $6,750 in 2019)
  • Family coverage: $13,800 (up from $13,500 in 2019)

And those over age 55 still get an extra $1,000 “catch-up contribution”.

About Jay Norris

Jay operates a health insurance brokerage in Colorado, where he helps individuals and small groups obtain and maintain health insurance coverage.
Complimenting his work as a health insurance broker, Jay also provides data analysis and creates visualizations that are easily understood by consumers and other stakeholders in Colorado’s health insurance market.

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