Every year, the IRS updates HSA contribution limits to reflect cost-of-living adjustments. The recently released Revenue Procedure 2018-30 outlines the 2019 HSA limits that take effect in January, which are up from 2018.
2019 HSA Limits
Self-Only Coverage: The HSA contribution maximum for next year is $3,500 for individuals with self-only high-deductible health plan (HDHP) coverage, a $50 increase from 2018.
Family Coverage: The 2019 HSA contribution limit is $7,000 for those with family HDHP coverage, up $100 from the 2018 max.
The IRS also annually reviews the limits for HDHPs, to which HSAs must be linked. For 2019, the minimum annual deductibles for an HDHP are the same as 2018: $1,350 for self-only coverage and $2,700 for family coverage. The limit for an HDHP’s total yearly out-of-pocket expenses goes up to $6,750 for self-only coverage and $13,500 for family coverage.
For more information about this notice, contact Complete Payroll Solutions’ Benefits department at 877.253.9020.