Earlier this month, the Internal Revenue Service announced in
For the 2019 calendar year, a HDHP is a health plan with an annual deductible that is not less than $1,350 for self-only coverage and $2,700 for family coverage (i.e., the same as 2018). Annual out-of-pocket expenses for 2019 (deductibles, copayments and other amounts, excluding premiums) cannot exceed $6,750 for self-only coverage and $13,500 for family coverage.
For individuals with self-only coverage under a HDHP, the 2019 annual contribution limit to an HSA is $3,500 and for an individual with family coverage, the HSA contribution limit is $7,000.
No change was announced to the HSA catch-up contribution limit. If an individual is age 55 or older by the end of the calendar year, he or she can contribute an additional $1,000 to his or her HSA. If a person is married and both spouses are age 55, each individual can contribute an additional $1,000 into his or her individual account.
For married couples with family coverage, they must have two HSA accounts if they want to contribute the maximum $7,000 (or $9,000 if both are eligible for catch-up contributions). The contribution cannot be maximized with only one account. One individual would contribute the family coverage maximum plus his or her individual catch-up, and the other would contribute the catch-up maximum to his or her individual account.
Plan sponsors should ensure that all participant communications for the 2019 plan year reflect the new limits.
