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:
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Contribution Limits
|
2019
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2020
|
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Health Care Flexible Spending Accounts (FSA)
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$2,700
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$2,750
|
|
Limited Purpose FSAs
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$2,700
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$2,750
|
|
Dependent Care FSAs
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Married, filing joint return, or single: $5,000
Married and filing separately: $2,500 per parent
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Married, filing joint return, or single: $5,000
Married and filing separately: $2,500 per parent
|
|
Commuter Benefits: Parking
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$265
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$270
|
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Commuter Benefits: Transit
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$265
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$270
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Qualified Small Employer Health Reimbursement Arrangement (QSEHRA)
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Self-only: $5,050
Family: $10,250
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Self-only: $5,250
Family: $10,600
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Health Savings Accounts (HSA)
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Self-only: $3,450
Family: $6,900*
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Self-only: $3,550
Family: $7,100
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|
HSA catch-up contributions (age 55 or older)
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$1,000
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$1,000
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HDHP minimum deductibles
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Self-only: $1,350
Family: $2,700
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Self-only: $1,400
Family: $2,800
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HDHP maximum out-of-pocket amounts (deductibles, co-payments and other amounts, but not premiums)
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Self-only: $6,650
Family: $13,300
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Self-only: $6,900
Family: $13,800
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Click here for the IRS Release - Rev. Proc. 2019-44.
If you have any questions, contact Surency at 800-264-9462.
