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Health Savings Accounts: Annual Contribution Limits for 2021

The IRS recently announced the annual contribution limits for Health Savings Accounts (HSAs) for 2021.  For calendar year 2021, the annual limitation on deductions for an individual with self-only coverage under a high deductible health plan is $3,600.  The calendar year 2021 annual deduction limitation for an individual with family coverage under a high deductible health plan is $7,200.

For 2021, a high deductible health plan is a health plan with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $7,000 for self-only coverage or $14,000 for family coverage.