The IRS recently released Health Savings Account (HSA) and High Deductible Health Plan (HDHP) limits for 2020.
Health Savings Accounts
For 2020, the HSA maximum annual contribution for self-only HDHP enrollment increases by $50 and family increases by $100.
|Maximum Annual Contribution||2019||2020|
|Catch-Up Age 55+||$1,000||$1,000|
Note that the annual contribution limits are pro-rated for each month an employee is enrolled in an HDHP.
High Deductible Health Plans
In 2020, there will be slight increases in the HDHP minimum deductible and maximum out-of-pocket, as well as the ACA maximum out-of-pocket. Plans must comply upon renewal.
|Deductible & Out-of-Pocket Limits||2019||2020|
Note that the ACA’s maximum out-of-pocket for self-only coverage applies to each covered individual, even if enrolled in HDHP family coverage. For more information about the ACA maximum out-of-pocket rule, please review 2016 HSA Limits & New Out-Of-Pocket Rule.
Please contact your Keller/OneDigital account team if you have questions.