The IRS announced late last week that the annual limit on deductible contributions to a health savings account will jump by $50 for individuals and $100 for families in 2019.
The annual limit on deductible contributions will be $3,500 for individuals with self-only coverage, a $50 increase from 2018, and $7,000 for family coverage, a $100 increase from 2018.
The minimum deductible for a qualifying high-deductible health plan remains unchanged for 2019 – $1,350 for individual coverage and $2,700 for family coverage.
Deductibles, copayments and other amounts that do not include premiums will have a maximum limit of $6,750 for individual coverage next year, up $100 from 2018, and $13,500 for family coverage, up $200 from 2018.
Earlier this year, the IRS changed the family coverage contribution limit for 2018 for HSAs from $6,900 to $6,850 in response to the Tax Cuts and Jobs Act, but later reversed the change and raised it again to $6,900.
If you have questions regarding the HSA contribution limits, contact us at email@example.com or 1-800-250-2741 ext. 170.