May 26, 2020

Health Savings Account limits for 2021

Participants in high-deductible health plans (HDHP) can contribute to tax-advantaged Health Savings Accounts.
"For 2021, the annual limit on deductible contributions is $3,600 for individuals with self-only coverage under an HDHP (a $50 increase from 2020) and $7,200 for family coverage (a $100 increase from 2020)."
"For 2021, the lower limit on the annual deductible for an HDHP is $1,400 for self-only coverage and $2,800 for family coverage, both unchanged from 2020. The upper limit for out-of-pocket expenses is $7,000 for self-only coverage and $14,000 for family coverage, both increased from 2020."

For more info on the tax advantages of HSAs search this blog for "health savings accounts."
Source:

HSA contribution limits increase for 2021

By Sally P. Schreiber, J.D.
Journal of Accountancy 

May 20, 2020

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