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PSCA Executive Reports

June 20, 2019

Health Savings Account (“HSA”) Limits

On May 28, the Internal Revenue Service released Revenue Procedure 2019-25, containing the 2020 inflation-adjusted limits for HSAs. For calendar year 2020, the annual contribution limit for an individual with self-only coverage will be $3,550 (an increase of $50 from 2019) and the annual contribution limit for an individual with other than self-only coverage will be $7,100 (an increase of $100 from 2019). For 2020, the annual deductible for HSA-capable health coverage will be not less than $1,400 for self-only coverage (up $50 from for 2019) and $2,800 for family coverage (up $100 from 2019). The annual out of pocket expense maximum will be $6,900 for self-only coverage (up $150 from 2019) or $13,800 for other than self-only coverage (up $300 from 2019). Separately, note that these limits are different (lower) than the out of pocket expense maximums proposed by Health and Human Services for in-network, essential health benefits for non-grandfathered group health plans in 2020 - $8,200 for self-only coverage and $16,400 for other than self-only coverage.

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