2021 Benefits Limits to Know

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As we enter the 2021 plan year, it is important to review some of the many benefit plan limit changes for the new calendar year.

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401(k) Limits

  • Pre-tax contributions: $19,500 (no change from 2020)
  • Catch-up contributions: $6,500 (no change from 2020)

Health Savings Account (HSA) Limits

  • Pre-tax contributions
    • Single coverage: $3,600 (up $50 from 2020)
    • Family coverage: $7,200 (up $100 from 2020)
  • Catch-up contributions: $1,000 (no change from 2020)

High Deductible Health Plan (HDHP) Limits

  • HDHP minimum deductible
    • Single coverage: $1,400 (no change from 2020)
    • Family coverage: $2,800 (no change from 2020)
  • HDHP maximum out-of-pocket costs
    • Single coverage: $7,000 (up $100 from 2020)
    • Family coverage: $14,000 (up $200 from 2020)

Flexible Spending Account (FSA) Limits

  • Contributions: $2,750 (no change from 2020)

For more information on any of these limits please Contact Us! If you are interested in starting an HSA, FSA, or HDHP plan for your organization, we would be happy to help you along the way.