IRS has just issued Revenue Procedure 2019-25, which provides the 2020 cost-of-living contribution and coverage adjustments for HSAs, as required under Code Section 223(g). Many items have increased for 2020.
|Health Savings Accounts||2020||2019|
|Self-only coverage annual minimum deductible||$1,400||$1,350|
|Self-only coverage maximum out of pocket||$6,900||$6,750|
|Self-only coverage maximum HSA contribution||$3,550||$3,500|
|Family coverage annual minimum deductible (Family coverage can include a spouse and any dependents)||$2,800||$2,700|
|Family coverage maximum out of pocket||$13,800||$13,500|
|Family coverage maximum HSA contribution||$7,100||$7,000|
BASIC HSA pairs with any carrier high deductible health plan (HDHP) – no need to ever change HSA Trustees! We offer no-cost debit cards, compliance expertise, and a full-service web portal to make things easy. If your company is looking for a cost-effective way to provide a richer benefits package to its employees, BASIC HSA is a no-brainer.