HSA 2021 Cost-of-Living Adjustments Released

The IRS has issued Revenue Procedure 2020-32, providing inflation-adjusted amounts for health savings accounts (HSAs) for calendar year 2021. Maximum annual HSA contributions will rise from $3,550 to $3,600 for those with self-only insurance coverage, and from $7,100 to $7,200 for those with family coverage.

Minimum deductible amounts for qualifying high deductible health plans will remain (no indexing upward for 2021) at $1,400 for self-only coverage, and $2,800 for a family plan. Maximum annual out-of-pocket amounts under self-only coverage will rise from $6,900 to $7,000, and from $13,800 to $14,000 for family coverage.