The Internal Revenue Service (IRS) has released the 2020 contribution limits for health savings accounts (HSAs), health care flexible spending accounts (FSAs), and commuter benefits, as well as the minimum deductible and maximum out-of-pocket (OOP) expenses for high-deductible health plans (HDHPs) in IRS Revenue Procedure 2019-44 and IRS Revenue Procedure 2019-25.

For HSAs, the annual contribution limits will increase by $50 for individuals and $100 for families.

For HDHPs, the minimum annual deductible will increase by $50 for self-only coverage and $100 for family coverage. The OOP maximum—which includes deductibles, co-payments, and other cost-sharing amounts, but excludes premiums—will be capped at $6,900 for self-only coverage and $13,800 for family coverage. This represents an increase of $150 and $300, respectively, from 2019.
 
The annual contribution limit for health care FSAs, including Limited Purpose FSAs will increase by $50 to $2,750.
 
The commuter benefits limit for mass transit and parking will increase by $5 to $270, per month in 2020.
 
The IRS updates contribution limits annually to reflect cost-of-living adjustments. These limits are effective for plan years that begin on or after January 1, 2020.

The table below reflects the changes to the contribution limits for HSA, FSA, and commuter benefits, as well as the HDHP deductible and OOP maximum.