IRS Releases 2019 HSA and HDHP Limits

IRS Releases 2019 HSA and HDHP LimitsThe Internal Revenue Service (IRS) has announced the 2019 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code.

For calendar year 2019, the annual limitation on HSA deductions for an individual with self-only coverage under a high deductible health plan is $3,500, up from $3,450 for 2018. The annual limitation on HSA deductions for an individual with family coverage under a high deductible health plan is $7,000, up from $6,900 for 2018.

For calendar year 2019, a “high deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,350 for self-only coverage or $2,700 for family coverage, and annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) that do not exceed $6,750 for self-only coverage or $13,500 for family coverage.

To read the full IRS announcement, click here.