Health Savings Account Limits Set to Rise in 2019
The Internal Revenue Service (IRS) just released the Health Savings Account (HSA) limits to take effect on January 1, 2019.
The changes are outlined in the table below compared to the 2018 HSA limits.
| 2019 v. 2018 HSA Contribution and Out-of-Pocket Limits for Health Savings Accounts and High Deductible Health Plans | ||
| 2018 | 2019 | |
| HSA limit (employer & employee contribution combined) | Individual: $3,450 Family: $6,900 | Individual: $3,500 Family: $7,000 |
| High Deductible Health Plan minimum deductibles | Individual: $1,350 Family: $2,700 | Individual: $1,350 Family: $2,700 |
| High Deductible Health Plan max out-of-pocket | Individual: $6,650 Family: $13,300 | Individual: $6,750 Family: $13,500 |
Here is a link to the IRS ruling.
In addition to the deductible amount, your plan must meet other criteria in order for participants to take advantage of an HSA. For example, the HSA must be paired with a High Deductible Health Plan and the deductible must apply to all covered health services except preventative services.
Also, the out-of-pocket maximum cannot be higher than the IRS designated amount. You should always consult your HR or Benefits departments with any questions on 2019 HSA limits or other high deductible health plan details.
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