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IRS Announces 2020 HSA Inflation Adjustments

06/04/19

IRS Announces 2020 HSA Inflation Adjustments

IRS building

The IRS has announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2020. The annual limit on deductible contributions to an HSA will go up by $50 for individual coverage and $100 for families next year.

  • HSA Contribution Limits – The 2020 annual HSA contribution limit for individuals with self-only HDHP coverage rises to $3,550, while the limit for individuals with family HDHP coverage increases to $7,100.
  • HDHP Minimum Required Deductibles – The 2020 minimum annual deductible for self-only HDHP coverage goes up $50 to $1,400. Family HDHP coverage increases $100 to $2,800.
  • HDHP Out-of-Pocket Maximum – The maximum limit on out-of-pocket expenses, including deductibles and copays (but not premiums), for individual HDHP coverage jumps $150 to $6,900. The limit for family HDHP coverage climbs $300 to $13,800.

MedBen clients with questions regarding these adjustments are welcome to contact Director of Administration Sharon A. Mills at (800) 423-3151, Ext. 438 or smills@medben.com.

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