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IRS Update

October 27, 2020

IRS Updates Limits for 2021

The IRS Released Revenue Procedure 2020-45 late last night announcing the limits for 2021. Most limits for tax-advantaged accounts remained the same for the upcoming year. The HSA Limits and HDHP Limits were announced earlier this year in Revenue Procedure 2020-32.

Each updates are set forth below:

20212020
HealthCare FSA$2,750$2,750
Dependent Care FSA$5,000$5,000
Rollover Maximum$550$550
Transportation $270/month$270/month
Parking$270/month$270/month
Adoption Assistance$14,440$14,300
Qualified Small Employer HRA Single$5,300$5,250
Qualified Small Employer HRA Family$10,700$10,600
Excepted Benefit HRA$1,800$1,800
HSA Limits
Single$3,600$3,550
Family$7,200$7,100
Catch-Up Limit (55+)$1,000$1,000
HDHP Min Annual Ded
Single$1,400$1,400
Family$2,800$2,800
HDHP Out of Pocket Maximum
Single$7,000$6,900
Family$14,000$13,800

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