2020 Health and Welfare Benefit Plan Limits Released by IRS
Legal Alert
The IRS issued Revenue Procedure 2019-44 today that provides the 2020 cost-of-living inflation adjustments for certain health and welfare benefit plans. Some of these amounts have been previously released by the IRS. Here are the highlights:
| Health FSAs | 2019 | 2020 |
| Maximum Health FSA Salary Reductions | $2,700 | $2,750 |
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| Adoption Assistance | 2019 | 2020 |
| Maximum Exclusion for Employer-Provided Adoption Assistance | $14,080 | $14,300 |
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| HDHPs and HSAs | 2019 | 2020 |
| HDHP Minimum Annual Deductible | ||
| Individual | $1,350 | $1,400 |
| Family | $2,700 | $2,800 |
| HDHP Out-of-Pocket Maximum | ||
| Individual | $6,750 | $6,900 |
| Family | $13,500 | $13,800 |
| HSA Maximum Contribution Limit | ||
| Individual | $3,500 | $3,550 |
| Family | $7,000 | $7,100 |
| HSA Catch-up Contribution Limit for age 55 and older | $1,000 | $1,000 |
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| Archer MSAs | 2019 | 2020 |
| High Deductible Health Plan Deductible-Single | ||
| Minimum | $2,350 | $2,350 |
| Maximum | $3,500 | $3,550 |
| High Deductible Health Plan Deductible-Family | ||
| Minimum | $4,650 | $4,750 |
| Maximum | $7,000 | $7,100 |
| High Deductible Out-of-Pocket Maximum | ||
| Single | $4,650 | $4,750 |
| Family | $8,550 | $8,650 |
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