NEWS

2019 HSA Limits Rise, IRS Says

Contribution limits to HSAs have been announced for 2019, the IRS says.

Investors in health savings accounts will see a small bump in contribution limits for the calendar year beginning in 2019, according to the IRS.\r\nIndividual investors in HSAs tied to high-deductible health plans will be able to contribute up to $3,500 next year, a $50 increase from the 2018 limit. HSAs tied to family HDHPs will see the contribution cap raised $100, to $7,000.\r\nCatch-up contributions for workers over age 55 will remain at $1,000.\r\nThe adjustments reflect the application of the Chained Consumer Price Index, or Chained CPI, inflation gauge to HSAs and other tax deductions, which was legislated with the signing of the Tax Cuts and Jobs Act last December.\r\nPreviously, the Consumer Price Index, or CPI, was used to set HSA contribution increases.\r\n