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IRS Releases 2021 Limits for HSAs

On May 20, 2019 the IRS released Revenue Procedure 2020-32 which provides the 2021 inflation adjusted amounts for high deductible health plans (HPHPs) Health Savings Accounts.

The amounts for HSAs for 2021 as compared to 2020 are as follows:

2020
Rev. Proc. 2019-25
2021
Rev. Proc. 2020-32
Annual limitation on deductions to a HSA – self-only coverage$3,550.00$3,600.00
Annual limitation on deductions to a HSA – family coverage$7,100.00$7,200.00
HDHP – self only coverage – Annual deductible not less than:$1,400.00$1,400.00*
HDHP – self only coverage – Annual out-of-pocket expenses do not exceed:$6,900.00$7,000.00
HDHP – family coverage – Annual deductible not less than:$2,800.00$2,800.00*
HDHP – family – Annual out-of-pocket expenses do not exceed:$13,800.00$14,000.00
* No change in 2021