The IRS released the limits for health savings accounts and high deductible health plans for 2020. These amounts take into account cost-of-living adjustments.
- HSA Contributions. The annual contribution limit is $3,550 for individuals with self-only HDHP coverage and $7,100 for individuals with family HDHP coverage.
- HDHP Minimum Deductible. The minimum annual deductible is $1,400 for self-only HDHP coverage and $2,800 for family HDHP coverage.
- HDHP Out of Pocket Maximum. The limit on out-of-pocket expenses is $6,900 for self-only HDHP coverage and $13,800 for family HDHP coverage.
These limits are effective starting in 2020.
