What Qualifies as a High Deductible Health Plan for an HSA in 2019?

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Definition and IRS criteria for 2019

When it comes to Health Savings Accounts (HSAs), one of the key requirements is having a High Deductible Health Plan (HDHP). But what exactly qualifies as a high deductible health plan for an HSA in 2019?

An HDHP that is eligible for an HSA in 2019 must meet certain criteria set by the IRS:

• The minimum annual deductible
• The maximum out-of-pocket expenses

Here are the specific details:

2019 deductible and out-of-pocket limits

• Minimum Annual Deductible: For self-only coverage, the minimum annual deductible for 2019 is $1,350. For family coverage, it is $2,700.
• Maximum Out-of-Pocket Expenses: The maximum out-of-pocket expenses for 2019 is $6,750 for self-only coverage and $13,500 for family coverage.

When considering Health Savings Accounts (HSAs), it’s crucial to have a High Deductible Health Plan (HDHP) to qualify for these benefits. So, what exactly qualifies as a high deductible health plan for an HSA in 2019?

According to IRS guidelines, an HDHP that qualifies for an HSA in 2019 must adhere to certain standards:

• The minimum annual deductible amount
• The cap on out-of-pocket expenses

Specifically, for 2019:

• Minimum Annual Deductible: For individuals, the annual deductible is set at $1,350, while for families, it’s $2,700.
• Maximum Out-of-Pocket Expenses: The caps for out-of-pocket expenditures are $6,750 for individuals and $13,500 for families.

Choosing an HDHP that qualifies

It's important to keep these numbers in mind when selecting a health plan that qualifies for an HSA. By choosing an HDHP that meets the IRS criteria, you can enjoy the benefits of an HSA, such as tax advantages and flexibility in managing your healthcare expenses.

Keeping these figures in mind is essential for selecting a compatible health plan. Choosing an HDHP that meets IRS standards enables you to reap the benefits of an HSA, including favorable tax benefits and greater control over your healthcare spending.