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IRS Guidelines, Contribution Limits, & Eligible Expenses

 

The IRS sets limits each year for maximum contributions to each type of account-based benefit.

Health Savings Account (HSA) – IRS Limits

2019 IRS Limits

  2017 IRS HSA Limits 2018 IRS HSA Limits
Maximum Contribution Limit $3,500 $7,000
Minimum Deductible $1,350 $2,700
Maximum
Out-of-Pocket
$6,750 $13,500
Catch-up Contribution (55+) $1,000 $1,000

2020 IRS Limits

 
Maximum Contribution Limit $3,550 $7,100
Minimum Deductible $1,400 $2,800
Maximum
Out-of-Pocket
$6,900 $13,800
Catch-up Contribution (55+) $1,000 $1,000

Flexible Spending Account (FSA) - IRS Limits

2019 Maximum Contribution:

$2,700

2020 Maximum Contribution:

$2,750

Dependent Care Flexible Spending Account (DCFSA) - IRS Limits

2019 Maximum Contribution:

$2,500

2020 Maximum Contribution:

$2,500

If filing taxes jointly, Maximum Contribution: $5,000

Commuter Benefits -
IRS Limits

2019 Parking & Transit:

$265

per month / per each benefit

2020 Parking & Transit:

$270

per month / per each benefit

 

IRS-Qualified Medical Expenses

You can pay for a wide range of IRS-qualified medical expenses with your HSA, including many that aren't typically covered by health insurance plans. This includes deductibles, co-insurance, prescriptions, dental and vision care, and more. For a complete list of IRS-qualified medical expenses visit irs.gov or view a list of qualifying examples.

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