2020 HSA Contribution Limits

July 10, 2019 | HSA

Health Savings Account

IRS Announces 2020 Adjustments for Qualified HDHPs and HSA Contributions

The Internal Revenue Service (IRS)  has released the 2020 inflation-adjusted amounts for Health Savings Accounts (HSAs). Contribution limits, minimum deductibles, and the maximum for out-of-pocket expenses all go up next calendar year.

HSA20192020
Individual contribution limit$3,500$3,550
Family contribution limit$7,000$7,100

In 2020, the HSA contribution limit for an individual will increase by $50 to $3,550 and for a family by $100 to $7,100. 

In addition, the 2020 High Deductible Health Plan deductible amounts and out-of-pocket expense limits were also announced. To be eligible to contribute to an HSA in 2020, one must be enrolled in a high deductible health plan that meets the following requirements:

HDHP (individual)20192020
Minimum annual deductible$1,350$1,400
Maximum annual out-of-pocket$6,750$6,900
HDHP (family)20192020
Minimum annual deductible$2,700$2,800
Maximum annual out-of-pocket$13,500$13,800