IRS announces 2020 HSA limits

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On May 21, 2019, the IRS issued Rev. Proc. 2019-25 announcing the annual inflation-adjusted health savings account and related contribution limits for calendar year 2020.

HSA Limits

Self-Only Coverage

Family Coverage

Annual contribution limit

2018: $3,450
2019: $3,500
2020: $3,550

2018: $6,900
2019: $7,000
2020: $7,100

Catch-up contribution (age 55 and older)

$1,000
(2018-2020)

HDHP minimum deductible requirements

2018: $1,350
2019: $1,350
2020: $1,400

2018: $2,700
2019: $2,700
2020: $2,800

HDHP out-of-pocket maximum

2018: $6,650
2019: $6,750
2020: $6,900

2018: $13,300
2019: $13,500
2020: $13,800

Health FSA limit on pre-tax contributions

$2,650

Dependent care FSA tax exclusion

$2,500
married filing separately

$5,000
married filing jointly

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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