IRS Increases Some HSA Limits for 2019
With IRS Rev. Proc. 2018-30, the IRS provided several new increases to various categories that Individuals and Families may elect into a Health Savings Account (HSA) if they have a compatible HDHP (High Deductible Health Plan).
For 2019, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,500, up from $3,450 in calendar year 2018.
The annual limit on deductible contributions for a person with family coverage under a high-deductible health plan will increase by $100 – from $6,900 in 2018 to $7,000 in 2019.
According to the IRS, a HDHP (High-Deductible Health Plan) is defined under Section 223(c)(2)(A) as a health plan with an annual deductible that is “not less than $1,350 for self-only coverage or $2,700 for family coverage.” Those amounts remain unchanged from 2018’s minimum levels.
Annual out-of-pocket expenses (OOPMAXes) – such as deductibles, copayments, and other amounts that do not include premiums – will have a maximum limit of $6,750 for individuals and $13,500 for families, which also increased from 2018’s limits.
- AP Benefit Advisors’ Multi-Year-HSA-limit-chart (1 page)
- APBA’s FSA/HSA/HRA overview (4 pages)
- IRS Revenue Procedure 2018-30