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2020 HDHP/HSA Limits

The IRS has released Revenue Procedure 2019-25 notifying Health Savings Account owners of the funding and deductible limits effective January 1, 2020.

Annual HSA Contribution Limits

  • Single – $3,550 ($50 increase from 2019)
  • Family – $7,100 ($100 increase from 2019)

Annual Minimum Required Deductibles

  • Single – $1,400
  • Family – $2,800

Out-of-Pocket Maximums

  • Single – $6,900 ($150 increase from 2019)
  • Family – $13,800 ($300 increase from 2019)

SHRM has a good breakdown chart of this here : https://www.shrm.org/resourcesandtools/hr-topics/benefits/pages/irs-2020-hsa-contribution-limits.aspx

HSA Reporting Reminder:
If you are 55 years old or older and enrolled in a high deductible health plan an additional $1000 can be added to these total amounts. This is considered a “Catch-up” contribution.

For more information on Health Savings Account (HSA) eligibility and utilization please contact your KBM Management Account Executive today.

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