Many benefit plan limits have changed for the new calendar year. Here’s what those changes are:

401(k) Limits

• Pre-tax contributions: $19,500 (up $500 from 2019)
  Catch-up contributions: $6,500 (up $500 from 2019)

Health Savings Account (HSA) Limits

• Pre-tax contributions:
  • Single coverage: $3,550 (up $50 from 2019)
  • Family coverage: $7,100 (up $100 from 2019)

• Catch-up contributions: $1,000 (no change from 2019)

High Deductible Health Plan (HDHP) Limits

• HDHP minimum deductible
  • Single coverage: $1,400 (up $50 from 2019)
  • Family coverage: $2,800 (up $100 from 2019)

• HDHP maximum out-of-pocket costs
  • Single coverage: $6,900 (up $150 from 2019)
  • Family coverage: $13,800 (up $300 from 2019)

Flexible Spending Account (FSA) Limits

• Contributions: $2,750 (up $50 from 2019)

For more information on any of these limits, please contact Howell Benefit Services, Inc. today at 1.888.831.9966 or email us at info@howellusa.com.

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