The IRS has released the cost sharing limits for high deductible health plans for plan years starting during the 2019 calendar year.

For the calendar year of 2019, individuals with self-only coverage may contribute $3,500 to their health savings account (HSA), while those with family coverage may contribute $7,000 to their HSA.

High deductible health plans for plan years for the 2019 calendar year may not have an annual deductible of less than $1,350 for single coverage or $2,700 for family coverage. This remains unchanged from the 2018 limits.

Likewise, the annual out-of-pocket expenses for the 2019 calendar year for high deductible health plans cannot exceed $6,750 for self-only coverage or $13,500 for family coverage.

These limits will be in effect for plan years beginning in 2019.

Please contact your Assurance representative if you have any questions.

Information contained herein is not intended to constitute tax or legal advice and should not be used for purposes of evading or avoiding otherwise applicable regulatory responsibilities as issued by the federal or state government(s) and/or taxes owed under the Internal Revenue Code. You are encouraged to seek advice from your legal or tax advisor based on your circumstances.