SUBSCRIBE
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
17330 Wright Street, Suite 100
Omaha, NE 68130-2157
Call us at 402-333-5200
2020 HSA LIMITS.
The IRS has released inflation-adjusted limits for Health Savings Accounts in 2020. The annual limitation on deductions for individuals with self-only coverage under a high deductible health plan (HDHP) is $3,550. The contribution limit for employees with family coverage under an HDHP is $7,100. The increases are $50 and $100, respectively.
The IRS defines a “high deductible health plan” as a health plan with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage. It limits annual out-of-pocket expenses such as deductibles and copayments to $6,900 for self-only coverage or $13,800 for family coverage. These figures are small increases from tax year 2019.
Enter your Name and Email address to get
the newsletter delivered to your inbox.
Please include name of person that directed you to my online newsletter so I can thank them personally.
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.