Minimums, Maximums, and Limits for 2023 HSAs For 2023 a Health Savings Account can be paired with any plan with an annual deductible of more than $1,500 for self-only coverage or $3,000 for family coverage, AKA any High Deductible Health Plan (HDHP). The 2023 HSA chart below shows...
The table below shows the projected HSA, HDHP and excepted-benefit HRA amounts for 2025, along with the 2024 and 2023 values for comparison. The HSA catch-up contribution limit is set by statute and hasn’t changed since 2009. HSA and HDHP limitsProjected 202520242023 Self-o...
2023-23, the IRS released the inflation-adjusted amounts for 2024 relevant to Health Savings Accounts (HSAs) and high deductible health plans (HDHPs). The table below summarizes those adjustments and other applicable limits. 2024 2023 Change Annual HSA Contribution Limit (employer and employee)...
You can see the difference between the 2023 and 2024 HSA maximum contribution amounts in the chart below. Contribution Limits for Health Savings Accounts Under HDHPs (*Individual means self-only coverage.) Header Cell - Column 0 20242023Change HSA Contribution Limit Individual: $4,150 Individual:...
The sum of the monthly contribution limits rule(useLimitation Chart and Worksheet in Form 8889 Instructions). This rule uses the sum of your monthly contributions, which is the amount determined separately for each month based on eligibility and HDHP coverage on the first day of each month, plu...
in excess of requirements. For 2024, a qualifying HDHP must have an annual deductible of $1,600 for self-only coverage or $3,200 for family coverage. In addition, annual out of pocket expense limits may not be more than $8,050 for self-only coverage and $16,100 for family coverage....
You must be enrolled in a HSA-eligible High Deductible Health Plan (HDHP) in order to make contributions to an HSA. In 2022, the minimum deductible is at least $1,400 for an individual and $2,800 for a family plan. For 2023: Must have a minimum deductible of $1,500 for individual...
HSA Contributions, Annual Limits, and DistributionsThe HDHP is defined by annual deductible limits and maximum annual limits on out-of-pocket costs (deductible + co-payments), both which are adjusted for inflation:HSA Annual Limits §223 YearSingle CoverageFamily Coverage MinimumHDHPDeductibleMaximum...
Contributions to an HSA can also be used to pay for qualified medical expenses for a spouse or dependent child, even if they're not covered by your HDHP. HSA contribution limits The IRS places an annual limit on how much you can deposit in an HSA. In 2023, the limit is $3,850 for...
To qualify for an HSA that can be opened in combination with an HDHP, the HDHP must meet certain criteria. The Internal Revenue Service (IRS) establishes guidelines ever year, adjusting the figures for inflation. Here are the qualifying criteria for tax years 2022 and 2023:910 2022 High...