The Internal Revenue Service has announced the 2020 deductible, out-of-pocket, and contribution limits for Health Savings Accounts (HSA). Here they are:
| Minimum Deductible | Out-of-Pocket Limit | Contribution Limit | |
| Single Coverage | $1,400 | $6,900 | $3,550 |
| Family Coverage | $2,800 | $13,800 | $7,100 |
Compared with 2019, the minimum deductible for people with single coverage increased by $50 from $1,350 to $1,400 while the minimum deductible for people with family coverage increased by $100 from $2,700 to $2,800. The out-of-pocket limit increased more significantly, from $6,750 to $6,900 for people with single coverage and from $13,500 to $13,800 for people with family coverage. That is still far less than the out-of-pocket limit for non-HSA plans in 2020.
The HSA contribution limits are increasing for 2020 as well. For those with single coverage, the new contribution amount is $3,550, an increase of $50 compared with 2019. For those with family coverage, the contribution limit is increasing by $100 to $7,100. The catch-up contribution for account holders age 55 and older remains $1,000 per year and must be deposited into an account in the individual’s name. That means that married couples age 55 and older must set up separate accounts if they both want to take advantage of the catch-up contribution.
More Comprehensive than Some Copay Plans
The Department of Health and Human Services also recently announced the out-of-pocket limits for non-HSA-qualified ACA-metallic plans, and the in-network exposure is significantly higher than for HSA plans. It is also rising much more rapidly:
| 2020 | 2019 | 2018 | |
| Single OOP Limit | $8,150 | $7,900 | $7,350 |
| Family OOP Limit | $16,300 | $15,800 | $14,700 |