HSA, FSA and Commuter Benefits in 2020

HSA, FSA and Commuter Benefits contribution limits increased effective January 1, 2020. Here’s what you need to know:

HSA Contribution Limits - $50 increase for individual and $100 increase for family contribution cap. Additionally, the maximum annual out-of-pocket for individuals rises to $150 and families rises to $300.

 

  2020 2019
Individual Contribution Limit $3,550 $3,500
Family ContributionLimit $7,100 $7,000
Catch-up Contribution Limit (for those over the age of 55) $1,000 $1,000
Max Individual Out-of-pocket $6,900 $6,750
Max Family Out-of-pocket $13,800 $13,500

 

FSA Contribution Limits - $50 increase in FSA contribution caps, in addition to the $500 maximum employer contribution, if offered. Dependent Care FSA annual maximums remained the same.

 

  2020 2019
Contribution Maximum $2,750 $2,700
Dependent Care FSA Maximum (for individuals or married couples filing jointly) $5,000 $5,000
Dependent Care FSA Maximum (for married persons filing separately) $2,500 $2,500

 

Commuter Benefit Limits - Total increase of $60 per year in transit and parking commuter pre-tax benefits.

 

  2020 2019
Transit Passes and Services (monthly contribution) $270 $265
Qualified Parking (monthly contribution) $270 $265