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Some employee benefits are subject to annual dollar limits which are periodically updated for inflation by the IRS. Although many limits will remain the same for 2021, the following limits will increase:
| HSA Contribution Limit | |
| Self-Only | $3,600 |
| Family | $7,200 |
| HDHP Out-of-Pocket Maximum | |
| Self-Only | $7,000 |
| Family | $14,000 |
| Adoption Assistance Benefits | |
| Tax Exclusion | $14,400 |
Employers should update their benefit plan designs and communicate the new limits to their employees. Download the bulletin for more details.
National Insurance Services is not a law firm and no opinion, suggestion, or recommendation of the firm or its employees shall constitute legal advice. Readers are advised to consult with their own attorney for a determination of their legal rights, responsibilities and liabilities, including the interpretation of any statute or regulation, or its application to the readers’ business activities.
