The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2020-32 the contribution limits for Health Savings Accounts (HSAs), and guidelines for HSA-Qualified High Deductible Health Plans (HDHPs) for 2021. These amounts are adjusted for inflation each year. Employers may want to review and consider incorporating these new limits.
Employee-only coverage: $3,600 annual HSA contribution limit, $1,400 minimum deductible, $7,000 out-of-pocket maximum
Family coverage: $7,200 annual HSA contribution limit, $2,800 minimum deductible, $14,000 out-of-pocket maximum
Employers may wish to remind employees that recent ...