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HSA Requirements and Limits for 2020

The IRS released the 2020 health savings account (HSA) annual contribution limits and high deductible health plan (HDHP) requirements in IRS Rev. Proc. 2019-25 — opens in a new window The updated annual dollar amounts are set forth below.

2020 Annual HSA Contribution Limits*

  • Self-only (single) HDHP coverage = $3,550 ($3,500 in 2019)
  • Other than self-only (family) HDHP coverage = $7,100 ($7,000 in 2019)

*Catch-up contributions — HSA-eligible individuals who have reached age 55 by the end of the taxable year can make an extra annual $1,000 catch-up contribution.

2020 Qualifying HDHP Coverage

Minimum Deductible
  • Self-only (single) = $1,400 ($1,350 in 2019);
  • Other than self-only (family) = $2,800 ($2,700 in 2019)
OOP Maximum
  • Self-only (single) = $6,900 ($6,750 in 2019);
  • Other than self-only (family) = $13,800 ($13,500 in 2019)

For more information about requirements for HSA-eligibility, contributions and reimbursements, talk to your Benefits Account Team or see our HSA Guide here: opens in a new window

For help calculating HSA annual contribution limits, we have included 2019 and 2020 spreadsheets:

As always, should you have any questions, please contact your opens in a new windowParker, Smith & Feek Benefits Team. For additional employee benefit compliance news and information visit our opens in a new windowHealthcare Reform Explained website.

The views and opinions expressed within are those of the author(s) and do not necessarily reflect the official policy or position of Parker, Smith & Feek. While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it.

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