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IRS Announces Cost-of-Living Adjustments for 2020

By Net Assets posted 06-24-2019 08:04 AM

  

(From The Bolton Blog) The IRS recently announced cost-of-living adjustments for affordability, Health Savings Accounts and High Deductible Health Plans for 2020. Knowing this information allows employers and employees to plan ahead. Changes include a rise in annual Health Savings Account contribution limits from $3,500 (self, 2019) and $7,000 (family, 2019) to $3,550 and $7,100 respectively in 2020. Maximum out-of-pocket for high deductible plans will go from $6,750 (self, 2019) and $13,500 (family, 2019) to $6,900 and $13,800 respectively in 2020.

More at The Bolton Blog

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