The ANBTX Health Savings Account, or HSA, is a tax-advantaged personal savings account designed to help you pay for current and future healthcare expenses. It is designed for those with HSA-qualified health plans (usually high-deductible health plans) to help save money on many out-of-pocket medical expenses––like doctors office visits, vision care, dental care, and prescriptions.
Features at a glance
Plus benefits that include
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For an eligible individual this is covered by the HDHP for the entire calendar year. The 2020 maximum annual contribution is the deductible amount (excluding any out-of-network deductible) not to exceed:
In future years, these amounts will be adjusted for cost-of-living increases in increments of $50.
Eligible individuals, who are age 55 or older, may make HSA catch-up contributions up to $1,000 per year.
Out-of-pocket Spending on HSA Compatible High Deductible Health Plans (HDHPs)
The maximum 2020 annual out-of-pocket amounts for HDHP self-coverage is:
Minimum Deductible Amounts for HSA Compatible High Deductible Health Plans (HDHPs)
The minimum 2020 deductible for HDHP self-coverage is: