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If you offer a High Deductible Health Plan (HDHP) with a Health Savings Account (HSA) to your employees, it’s very important to ensure that your HDHP minimum deductible and out-of-pocket maximums comply with the IRS’s 2020 limits. New HSA contribution limits will increase effective January 1, 2020, while HDHP limits will increase effective for Plan Years beginning on or after January 1, 2020. HSA catch-up contribution limits for individuals 55+ did not increase for 2020.
The following 2019/2020 comparison table illustrates the HDHP and HSA changes released by the IRS.
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