2019 HSA Limits Announced by the IRS

This update is hot off the presses! On May 10, the IRS announced that the annual limit on Health Savings Account contributions will increase by $50 for individuals and $100 for families next year.

In 2019, the annual contribution limit for individuals has been set at $3500 for self-only coverage, versus the 2018 rate of $3450. For family coverage, that limit ha gone from $6900 to $7000.

An HSA must be combined with a high deductible health plan. The IRS also announced the 2019 High Deductible Health Plan minimum deductible amounts. The minimum deductible for a qualifying high-deductible health plan has not changed for 2019. For 2019, the minimum annual deductible for a HDHP (individual) is $1350, unchanged from last year. For families, the minimum annual deductible rate remains consistent at $2700.

Under the Affordable Care Act, a group health plan cannot require an individual to spend more than a specified annual maximum amount on covered services. The IRS announced that for 2019, the maximum annual out-of-pocket on individual plans is $6750, an increase of $100 from 2018. For 2019, the maximum annual out-of-pocket amount for family plans is $13,500, an increase of $200 from 2018.

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