May 26, 2020
The IRS has issued Revenue Procedure 2020-32, providing inflation-adjusted amounts for health savings accounts (HSAs) for calendar year 2021:
Maximum Contribution Amount
- Individual - $3,600 (increase of $50)
- Family - $7,200(increase of $100)
- Catch-up (age 55+) - $1,000 (no increase)
High Deductible Health Plan (HDHP) deductible amounts and expense limits for 2021 were also announced:
Annual Maximum Out-of-Pocket Limit for HDHP
- Individual - $7,000 (increase of $100)
- Family - $14,000 (increase of $200)
Annual Minimum Deductible Limit for HDHP
- Individual - $1,400 (no increase)
- Family - $2,800 (no increase)
For a copy of the IRS Revenue Procedure, please click here.