2020 IRS Contribution Limits Released
On Wednesday, the IRS announced new contribution limits for medical FSA, Commuter Benefit, and HSA plans for 2020. The FSA contribution will increase to $2,750, a $50 increase from current limits. The HSA contribution limit for individuals with a high deductible health plan (HDHP) will likewise be raised from $3,500 for an individual and $7,000 for a family to $3,550 for an individual and $7,100 for a family. The IRS also adjusted the contribution limits for adoption assistance programs, increasing the limit from $14, 080 to $14,300. The current and new contribution limits are listed below:
| 2019 | 2020 | |
| Medical FSA Contribution Limit |
| $2,700 | $2,750 | |
| Monthly Commuter Benefits Contribution Limit | $265 | $270 |
| HSA Contribution Limit |
Single: $3,500
Family: $7,000
Single: $3,550
Family: $7,100
Adoption Assistance Limit
| $14,080 | $14,300 |
