Ship steer in control room Japanese ferry
Each year the IRS releases updated health savings account (HSA) and high-deductible health plan (HDHP) limits for the coming year. 2020’s limits are listed below and further information can be found on the IRS website HERE or by contacting Heather Baird at hbaird@insurancetrust.us.
2020 HSA Contribution Limits
- Individual: $3,550 ($50 increase from 2019)
- Family: $7,100 ($100 increase from 2019)
- Over 55 catch-up $1000 (remains the same)
2020 HDHP minimum annual deductibles
- Individual: $1,400 ($50 increase from 2019)
- Family: $2,800 ($100 increase from 2019)
2020 HDHP maximum out-of-pocket amounts
- Individual: $6,900 ($150 increase from 2019)
- Family: $13,800 ($300 increase from 2019)