Because your HSA is a bank account, anyone can contribute to it, including your employer and your family or friends. But you’ll likely be the primary contributor.

No matter who puts money in, you’re allowed so much each year.

High-deductible health plan limits

When you have an HSA, you also have a high-deductible health plan (HDHP), which sets the limits for how much you have to pay for your health care services until the health insurance starts paying.

2019

2020

Change

HSA contribution limit

Individual: $3,500

Family: $7,000

Individual: $3,550

Family: $7,100

Individual: +$50 

Family: +$100

HDHP minimum deductibles

Individual: $1,350

Family: $2,700 but not less than $2,700 per person

Individual: $1,400

Family: $2,800 but not less than $2,800 per person

Individual: +$50

Family: +$100

HDHP maximum out-of-pocket amounts

Individual: $6,750

Family: $13,500 but no more than $7,900 a person

Individual: $6,900

Family: $13,800 but no more than $8,150 a person

Individual: +$150  

Family: +$300  


Note: Those aged 55 or older can contribute $1,000 as a "catch-up" contribution any time during the year.

High-deductible health plan limits

When you have an HSA, you also have a high-deductible health plan (HDHP), which sets the limits for how much you have to pay for your health care services until the health insurance starts paying.

Tax information and implications

There are different tax implications for the self-employed, partnerships or S-Corps. If you have questions about HSAs and tax implications, contact your accountant or refer to IRS Notice 2005-8.

Using Form 8889

Make sure your employees file Form 8889 each year they have an HSA. This form tells the IRS about all contributions and distributions made during the year and allows the account holder to list any after-tax contributions so they receive an "above-the-line" deduction.