The Internal Revenue Service (IRS) recently announced the 2019 inflation-adjusted amounts for Health Savings Accounts (HSA) (under §223 of the Internal Revenue Code). For the 2019 calendar year, the annual limitation on deductions for an individual with self-only coverage under a High-Deductible Health Plan (HDHP) is $3,500. The annual limitation on deductions for an individual with family coverage under a HDHP is $7,000. The IRS defines a “High Deductible Health Plan” as a health plan with an annual deductible that is not less than $1,350 for self-only coverage or $2,700 for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,750 for self-only coverage or $13,500 for family coverage.
The IRS Announcement – https://www.irs.gov/pub/irs-drop/rp-18-30.pdf
