As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 13 years.
With the April 10 release of the March inflation figures by the Bureau of Labor Statistics, I am now finalizing my projected HSA amounts for next year. You can find my projections on my website at AskMrHSA.com.
I am projecting that the HSA contribution limits will increase again for 2020. This is great news for HSA account owners. On the HSA-qualified plan side, the minimum deductibles will increase for 2020 after remaining static for the past several years. In addition, the annual out-of-pocket maximums will also rise for 2020.
The IRS will make these amounts official in the coming weeks. However, employers, trustees, custodians, administrators, and insurance carriers can start making the necessary adjustments now.