Health Savings Accounts

Is a tax-advantaged medical savings account available to taxpayers who are enrolled in a high deductible health plan (HDHP). HSA’s are owned by the individual and the funds contributed are used to pay for qualified medical expenses at any time.

Tax free withdrawals if used to pay for qualified medical expenses
Choose between individual coverage or family coverage for you, your spouse, and your dependents.
Must be enrolled in an HDHP – see below for qualifying Deductible and Out-Of-Pocket Expenses
Tax-deductible contributions can be made up to the annual limits below
Pay for qualified medical expenses at time of purchase with your HSA Debit Card
Unused funds remain in the HSA each year and earn a competitive interest rate

Minimum Annual Deductible to Qualify
Tax Year	Self-Only Coverage	Family Coverage
2019	$1,350	$2,700
2020 and later	$1,400*	$2,800*

Maximum Out-of-Pocket Expenses to Qualify
Tax Year	Self-Only Coverage	Family Coverage
2019	$6,750	$13,500
2020 and later	$6,900*	$13,800*

HSA Contribution Limits
Tax Year	Self -Only Contribution Limit	Family Contribution Limit	Catch-Up Contribution Limit
2019	$3,500	$7,000	$1,000 per individual age 55 or older
2020 and later	$3,550*	$7,100*	$1,000 per individual age 55 or older

*Subject to annual cost-of-living adjustments

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