2020 Health Savings Account and Compliant Health Plan Limits
The IRS has announced the annual Health Savings Account (HSA) contribution limits and High Deductible Health Plan (HDHP) minimum deductible and maximum out-of-pocket limits that will apply in 2020. Individual contributions are increasing from $3,500 to $3,550. Maximum contributions for family plans are increasing from $7,000 to $7,100. High deductible plans in 2020 will be those that have an End excerpt
HSA Update to Contraceptive Equity Act in Maryland
On 3/5/18 the IRS issued Notice 2018-12, providing transition relief on the issue of male sterilization and HSA accounts. In the notice, the IRS states that: Male Sterilization is NOT preventative care Male Sterilization must include cost sharing payments such as deductibles/co-pays HDHP Policies that mandate payments for male sterilization without cost sharing are NOT End excerpt
Important Notice: Maryland-based employers who renewed or began health coverage 1/1/18
In 2016, Maryland passed a Contraceptive Equity Act requiring commercial health insurance plans to provide coverage for male sterilization service without a co-payment, co-insurance or deductible.
IRS Sets HDHPs & HSA Limits for 2018
IRS Sets HDHPs & HSA Limits for 2018. Many are increasing.