On May 20, 2020 the IRS issued the limits for 2021 on Health Savings Accounts (HSAs) and the associated high deductible health plans (HDHPs) in Revenue Procedure 2020-32.
Health Savings Accounts
Minimum HDHP Deductible: $1,400/single $2,800/family
Maximum Contributions: $3,600/single $7,200/family
Out-of-Pocket Maximum: $7,000/single $14,000/family
It is important to note that all limitations have increased from 2019.
REMINDER: The Affordable Care Act (ACA) out of pocket limits differ from the Internal Revenue Service (IRS) out-of-pocket limits for HSA qualified HDHPs.
Affordable Care Act – Out of Pocket Maximums
Out-of-Pocket Maximum 2021: $8,550/single $17,100/family
With the ACA limits, plans must apply the annual individual out-of-pocket (OOP) maximum for each individual in a family plan. Employers offering HSAs, however, must make sure they satisfy the lower OOP maximums and not these higher ACA limits.
