2020 Updates to the ACA and IRS Plan Limits

November 26, 2019

Employers – Take a moment to learn about changes to the 2020 ACA and IRS Plan Limits

This communication is not intended to be legal advice and should not be construed as legal advice. If you have any legal questions or concerns about your plan, Norgard Insurance recommends seeking counsel from an ERISA attorney.

Health Savings Account limits

The latest published Health Savings Account limits for 2020 compared to 2019

Information in red indicates a change

Chart showing HSA Limits in 2020

Chart Showing Employer Mandate Penalty in 2020

Maximum Contributions Allowed by IRS

Below is current information on maximum contributions allowed by IRS for FSA Medical and Dependent Care Accounts as well as for Transportation Fringe Benefits compared to 2019.

Flexible Savings Accounts Contribution Limits

Affordability Contribution Percentage under the ACA

Most employers do not know their employees’ household incomes so the Affordable Care Act (ACA) created a Safe Harbor in which any of the following can be used to determine ‘income’.

  1. The Employee’s W-2 Wages found in Box 1
  2. The Employee’s rate of pay – hourly wage rate x 130 hours
  3. The Individual Federal Poverty Level (FPL) – $12,490 (in the 48 contiguous states and Washington, DC)

2020 Affordability Safe Harbor Percentage

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