Health Savings Account (HSA) Contribution Limits Increase in 2020

HSA Health Savings Account Wooden Blocks Near Piggybank On Table

Effective January 1, 2020, the contribution limits for Health Savings Accounts (HSA) are increasing as outlined in the table below:

Health Savings Account Contribution Limits
HSA contribution limit 2020 2019
Individual $3,550 $3,500
Family $7,100 $7,000
HSA catch-up contributions

(age 55 or older)*

$1,000 $1,000
*Catch-up contributions can be made during the year by HSA-eligible participants who will turn 55 by the end of the year

Take advantage of this pre-tax benefit and save for future medical expenses or your retirement. You may change your contribution to your health savings account at any time during the year by contacting Betty Hesseling.

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1 Response to Health Savings Account (HSA) Contribution Limits Increase in 2020

  1. Dea Ellen Epley Birtwistle says:

    Am I able to use the Family limit even if I just participate in Family dental and my spouse has his own health policy through MC district? I am finding that he is using up all my HSA with his dental implants’ bills.

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