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2021 Employee Benefit Plan Limits

employee benefit plan limits

1 minute read

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.

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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.

Final Forms for 2020 ACA Reporting
November 05, 2020
Final Rule Issued for Health Care Transparency
November 05, 2020
Brock Buckellew

Brock Buckellew

Brock Buckellew believes in giving back to his community. He volunteers at several charities as well as serving his local clients with their employee benefit needs. Brock enjoys providing resources and solutions as well as establishing long lasting relationships. As Account Manager for National Insurance Services, Brock works with schools, cities, and counties in Minnesota on their health insurance, wellness plans, benefit communication, and retirement incentives. Brock has a background in employee benefit consulting and is a licensed insurance agent.