The 2019 Health Savings Account (HSA) Contribution Limits have been announced and plan participants will see a slight increase in the amount they can contribute. The single contribution maximum will increase by $50 to $3,500 and the family maximum will increase by $100 to $7,000.
The annual catch-up contribution for workers over age 55 will remain at $1,000.
In order to contribute to an HSA, participants must be enrolled in a qualifying high deductible health plan (HDHP). The IRS also announced the minimum deductibles and maximum out-of-pocket limits to be considered a qualifying HDHP. In 2019, medical plans with a deductible of at least $1,350 for single coverage and $2,700 for family coverage will be considered qualified HDHP plans. These are unchanged from 2018
The out-of-pocket expense maximum for a qualified HDHP in 2019 will increase $100 for individuals to $6,750 and $200 for families to $13,500. Please see chart below.
|HSA Contribution Limit||$3,500||$7,000||$3,450||$6,900|
|HDHP Minimum Deductible||$1,350||$2,700||$1,350||$2,700|
|HDHP Maximum OOP Expense Limit||$6,750||$13,500||$6,650||$13,300|
For additional information on HSAs and high deductible plans, contact VCG at email@example.com