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 |
|
|
| Adoption Assistance |
2019 |
2020 |
| Maximum Exclusion for Employer-Provided Adoption Assistance |
$14,080 |
$14,300 |
|
|
| 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 |
|
|
| 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 |