Each year, the IRS updates 1) the minimum annual deductible amount a health plan can have to qualify for a complementary, tax-advantaged health savings account (HSA), 2) the maximum out-of-pocket cost responsibility for the participant, and 3) the HSA contribution limit that an account holder can contribute for the plan year.
On May 28, 2019, the IRS released Revenue Procedure 2019-25. It provides the 2020 inflation-adjusted amounts for HSA-qualified high deductible health plans (HDHPs).
The inflation-adjusted increases for 2020 are:
Alegeus will continue to keep you up to date as the IRS releases the cost of living adjustments for other benefit accounts.