Alert / Employee Benefits
IRS adjusts HSA limits for 2021

May 21, 2020

The IRS has released the inflation-adjusted contribution and related amounts for health savings accounts (HSAs) and HSA-compatible high-deductible health plans (HDHPs) for 2021. The limits are set forth below.

2021 HSA limits

Annual HSA contribution maximum:

  • $3,600 for single coverage ($50 increase from $3,550)
  • $7,200 for family coverage ($100 increase from $7,100) 

Annual catch-up contribution maximum:

  • $1,000 (for HSA-eligible individuals age 55 or older) (no change)

HDHP minimum deductible:

  • $1,400 for single coverage (no change)
  • $2,800 for family coverage (no change)

HDHP out-of-pocket maximum:

  • $7,000 for single coverage ($100 increase from $6,900)
  • $14,000 for family coverage ($200 increase from $13,800)

 

Not Legal Advice: Nothing in this alert should be construed as legal advice. Lockton may not be considered your legal counsel, and communications with Lockton's Compliance Services group are not privileged under the attorney-client privilege.

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