|The IRS announced an increase to the maximum HSA contribution limits for the 2020 calendar year in Revenue Procedure 2019-25.|
The individual contribution limit has been raised from $3,500 to $3,550. The family contribution limit has been raised from $7,000 to $7,100. Flexible Spending Accounts (Health Care FSAs, Dependent Care FSAs, Parking and Transit plans) were not affected.
Baker Tilly Vantagen is prepared to support our partners in light of this change. As a first step, our myFlexDollars portal was updated on May 29, 2019 to reflect the new maximum contribution limits.