Is a tax-advantaged medical savings account available to taxpayers who are enrolled in a high deductible health plan (HDHP).  HSA’s are owned by the individual and the funds contributed are used to pay for qualified medical expenses at any time.

  • Tax free withdrawals if used to pay for qualified medical expenses
  • Choose between individual coverage or family coverage for you, your spouse, and your dependents.
  • Must be enrolled in an HDHP – see below for qualifying Deductible and Out-Of-Pocket Expenses
  • Tax-deductible contributions can be made up to the annual limits below
  • Pay for qualified medical expenses at time of purchase with your HSA Debit Card
  • Unused funds remain in the HSA each year and earn a competitive interest rate
Minimum Annual Deductible to Qualify
Tax Year Self-Only Coverage Family Coverage
2019 $1,350 $2,700
2020 and later $1,400* $2,800*

 

Maximum Out-of-Pocket Expenses to Qualify
Tax Year Self-Only Coverage Family Coverage
2019 $6,750 $13,500
2020 and later $6,900* $13,800*

 

HSA Contribution Limits
Tax Year Self -Only Contribution Limit Family Contribution Limit Catch-Up Contribution Limit
2019 $3,500 $7,000 $1,000 per individual age 55 or older
2020 and later $3,550* $7,100* $1,000 per individual age 55 or older

*Subject to annual cost-of-living adjustments

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