The IRS released the inflation adjustments for health savings accounts (HSAs) and their accompanying high deductible health plans (HDHPs) effective for calendar year 2021. Most limits increased from 2020 amounts. Annual Contribution Limits For calendar year 2021, the limitation on deductions for an individual with self-only coverageunder a high deductible health plan is $3,600. For calendar year 2021, the limitation on deductionsfor an individual with family coverage under a high deductible health plan is $7,200.High Deductible Health Plans For calendar year 2021, a “high deductible health plan” is defined as a health plan with an annualdeductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage(unchanged… Read More
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