May 22, 2020
The Internal Revenue Service (IRS) has released Revenue Procedure 2020-32 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2021. These limits include:
These limits vary based on whether an individual has self-only or family coverage under an HDHP. The following chart shows the HSA/HDHP limits for 2021 as compared to 2020. It also includes the catch-up contribution limit that applies to HSA-eligible individuals who are age 55 or older, which is not adjusted for inflation, and stays the same from year to year.
|Type of Limits||2020||2021||Change|
|HSA Contribution Limit||Self-only||$3,550||$3,600||Up $50|
|HSA Catch-up Contributions||Age 55 or older||$1,000||$1,000||No Change|
|HDHP Minimum Deductible||Self-only||$1,400||$1,400||No Change|
|HDHP Maximum Out-of-Pocket||Self-only||$6,900||$7,000||Up $100|
For additional information, please contact your Burnham Benefits Consultant or Burnham Benefits at 949-833-2983 or email@example.com.
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