The IRS has announced the 2021 cost-of-living adjusted limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs). Here are the details:
- HSA Contribution Limits. The 2021 annual HSA contribution limit is $3,600 for individuals with self-only HDHP coverage (up from $3,550 in 2020), and $7,200 for individuals with family HDHP coverage (up from $7,100 in 2020).
- HDHP Minimum Deductibles. The 2021 minimum annual deductible is $1,400 for self-only HDHP coverage (unchanged from 2020) and $2,800 for family HDHP coverage (unchanged from 2020).
- HDHP Out-of-Pocket Maximums. The 2021 limit on out-of-pocket expenses (including items such as deductibles, copayments, and coinsurance, but not premiums) is $7,000 for self-only HDHP coverage (up from $6,900 in 2020), and $14,000 for family HDHP coverage (up from $13,800 in 2020).
Contact your Cornerstone representative with any questions.