IRS Update: 2020 Contribution Limits
November 25, 2019
On November 7, 2019, the IRS released the 2020 FSA, Commuter, and QSEHRA maximum contribution limits. 2020 HSA limits were released in May. See below for all 2020 maximum contribution amounts, with changes bolded:
| Contribution Limits | 2019 | 2020 |
|---|---|---|
| Health Care Flexible Spending Accounts (FSA) | $2,700 | $2,750 |
| Limited Purpose FSAs | $2,700 | $2,750 |
| Dependent Care FSAs | Married, filing joint return, or single: $5,000 Married and filing separately: $2,500 per parent |
Married, filing joint return, or single: $5,000 Married and filing separately: $2,500 per parent |
| Commuter Benefits: Parking | $265 | $270 |
| Commuter Benefits: Transit | $265 | $270 |
| Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) |
Self-only: $5,050 |
Self-only: $5,250 Family: $10,600 |
| Health Savings Accounts (HSA) | Self-only: $3,450 Family: $6,900* |
Self-only: $3,550 Family: $7,100 |
|
HSA catch-up contributions (age 55 or older) |
$1,000 |
$1,000 |
|
HDHP minimum deductibles |
Self-only: $1,350 Family: $2,700 |
Self-only: $1,400 Family: $2,800 |
|
HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums) |
Self-only: $6,650 Family: $13,300 |
Self-only: $6,900 Family: $13,800 |
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Click here for the IRS Release - Rev. Proc. 2019-44.
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