HSA Amounts for 2020

The HSA amounts are indexed earlier in the year (normally in May) than other indexed items (normally in December).  Here are the indexed amounts for HSAs for 2020 according to Revenue Procedure 2018-30.

** The CONTRIBUTION limitations for 2020 are:

Single coverage is $3,550

Family coverage is $7,100

(The catch up amount for taxpayers reaching age 55 or older by the end of the year remains at $1,000)

** The annual OUT-OF-POCKET expenses (deductibles, co-payments, and other amounts, but not premiums) cannot exceed:

$6,900 for self-only coverage

$13,800 for family coverage