HSA limits Archives - Employee Benefits I AP Benefit Advisors

IRS Releases 2021 Limits for HSAs

On May 20, 2020, the IRS released Revenue Procedure 2020-32.  It provides the 2021 inflation-adjusted amounts for HSA-qualified high deductible health plans (HDHPs). The inflation-adjusted increases for 2021 are: HSA-Qualified HDHP Self Coverage: Annual deductible must be $1,400 or more in 2021 (up $50 from 2020), and annual out-of-pocket expenses cannot exceed $7,000 (up $100 […]

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2019 2nd Quarter Compliance Update

Topics include: Expanded HRA Options Form 5500 is Due by July 31 President Trump’s Latest Executive Order HDHP/HSA Limits Increase for 2020 New EEOC Wellness Rules Expected by December ACA Limits, Penalties and Fees And more! Read Now For more information, contact info@apbenefitadvisors.com. The information contained in this post, and any attachments, is not intended […]

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IRS Releases 2020 Limits for HSAs

On May 28, 2019, the IRS released Revenue Procedure 2019-25 It provides the 2020 inflation-adjusted amounts for HSA-qualified high deductible health plans (HDHPs). The inflation-adjusted increases for 2020 are: HSA-Qualified HDHP Self Coverage: Annual deductible must be $1,400 or more in 2020 (up $50 from 2019), and annual out-of-pocket expenses cannot exceed $6,900 (up $150 […]

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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, […]

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IRS Increases HSA Limits for 2018

With IRS Rev. Proc. 2017-37, 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 2018, the annual contribution limitation for a person with self-only coverage under a high-deductible health plan is $3,450, […]

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Updates from the IRS, DOL and HHS – 2017 HSA Limits and More. Agencies Provide Guidance on Preventive Services, Rescissions, Mental Health Parity, and More

As April began to close out, the DOL, HHS, and IRS jointly issued FAQs with guidance on several health care reform requirements, along with mental health parity and the Women’s Health and Cancer Rights Act (WHCRA). Here are the highlights in order of the Questions and Answers. Preventive Services (Questions/Answers 1 & 2).  Q/A-1 confirms […]

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IRS Releases 2016 HSA Limits & Specifications

IRS Rev. Proc 2015-30 – increases the Health Savings Account (HSA) maximum annual contribution for 2016 by $100 for families and leaves the single (Employee-Only) contribution at 2015’s level. Corresponding health plans remain the same. The corresponding HDHP plan (per IRC 223(c)(2)(A)) must be a health plan with an annual deductible that is not less […]

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IRS Releases Publication 969 – Ready for Tax Season

The IRS’ latest version of Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans has been published to their website. Publication 969 provided general rules for: HSAs – Health Savings Accounts HCFSAs – Health Care Flexible Spending Arrangements/Accounts HRAs – Health Reimbursement Arrangements MSAs – Medical Savings Accounts What’s new for 2014? There are […]

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IRS Releases 2014 HSA Limits

Breaking news!   The Internal Revenue Service has just released the 2014 cost-of-living-adjusted HSA limits.  The following takes effect for calendar year 2014. Annual contribution limits $50 increase (EE Only): The annual limitation on deductions for an individual with employee-only coverage under a high deductible health plan (HDHP) is $3,300 — up $50 from 2013. $100 […]

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