IRS 2020 Plan Maximums and Limits
To date, the IRS has released a number of HSA and ACA maximums and limits applicable to 2020 health and welfare plans. See below for the 2020 numbers along with comparisons to 2019. We will update this page as the IRS releases more 2020 maximums and limits throughout the year.
Cafeteria Plans:
|
2019 |
2020 |
| Health FSA Maximum: |
$2,700 |
$2,750 |
| Dependent Care Assistance Plans (Dependent Care FSA) annual maximum (unless married filing separately): |
$5,000 |
$5,000 |
| Dependent Care Assistance Plans (Dependent Care FSA) annual maximum (if married filing separately): |
$2,500 |
$2,500 |
| Medical mileage rate to obtain medical care (reimbursable by a Health FSA): |
$0.20 |
$0.17 |
| Compensation amount for determining Highly Compensated Employee: |
$125,000 |
$130,000 |
| Compensation amount for determining Key Employee (officers/owners earning over): |
$180,000 |
$185,000 |
Health Savings Accounts (HSAs):
|
2019 |
2020 |
| Minimum annual HDHP deductible – Single: |
$1,350 |
$1,400 |
| Minimum annual HDHP deductible – Family: |
$2,700 |
$2,800 |
| Annual HSA Contribution Limit – Single: |
$3,500 |
$3,550 |
| Annual HSA Contribution Limit – Family: |
$7,000 |
$7,100 |
| Plan Out-of-Pocket Max for HSA Eligibility – Single: |
$6,750 |
$6,900 |
| Plan Out-of-Pocket Max for HSA Eligibility – Family: |
$13,500 |
$13,800 |
| Annual HSA Contribution Limit – Age 55+ catch-up: |
$1,000 |
$1,000 |
Affordable Care Act (ACA):
|
2019 |
2020 |
| Plan Out-of-Pocket Max for ACA Compliance – Individual: |
$7,900 |
$8,200 |
| Plan Out-of-Pocket Max for ACA Compliance – Family: |
$15,800 |
$16,400 |
| ACA Affordability Percentage: |
9.86% |
9.78% |
Transportation Fringe Benefits (per month):
|
2019 |
2020 |
| Parking: |
$265 |
$270 |
| Transit Passes & Vanpooling: |
$265 |
$270 |
For more information or questions regarding how the limits impact your plan, feel free to contact us.
Jon Cauble is the newest member of the ProBenefits Compliance Team. Recently earning his Master of Studies in Law, he coordinates much of the day-to-day compliance support for plans and clients. This allows our two benefits attorneys, Jason Cogdill (General Counsel) and Laura Bibb (Senior Compliance Counsel), to manage the compliance initiatives and services provided by ProBenefits, serve as resources for employers and plan advisors, and deliver outside presentations on a range of benefits compliance topics.
