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IRS Employee Benefit Plan Limits

IRS 2023 Limits for HSAs 

The limit amounts for HSAs for 2023 as compared to 2022 are as follows:

HSA Limits

2023 Limits

Rev. Proc. 2022-24

2022 Limits

Rev. Proc. 2021-25

Annual limitation on deductions to an HSA -- Self-only coverage $3,850 $3,650
Annual limitation on deductions to an HSA -- Family coverage $7,750 $7,300
High Deductible Health Plan (HDHP) -- Self-only coverage
Annual deductible not less than: $1,500 $1,400
Annual out-of-pocket expenses do not exceed: $7,500 $7,050
High Deductible Health Plan (HDHP) -- Family coverage
Annual deductible not less than: $3,000 $2,800
Annual out-of-pocket expenses do not exceed: $15,000 $14,100

 

The IRS will update the remaining 2023 employee benefit plan limit changes throughout 2022; 2023 limits will be updated accordingly on this page once the IRS makes any additional limit announcements.


IRS 2022 Employee Benefit Plan Limits

The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2021 and 2022.*

Health Flexible Spending Accounts 2022 2021
Maximum salary reduction limit $2,850 $2,750
Health FSA Carryover Limit $570 $550

 

Dependent Care Flexible Spending Accounts± 2022 2021
If employee is married and filing a joint return or if the employee is a single parent

$5,000

$5,000 

If employee is married but filing separately $2,500 $2,500

(2021 limits raised to $10,500 for 2021 based on the  American Rescue Plan Act passed March 11, 2021)

  2022 2021
Expected Benefit Health Reimbursement Arrangements $1,800 $1,800

Qualified Transportation Fringe Benefit and Qualified Parking (monthly limit)

$280 $270
Adoption Assistance Exclusion $14,890 $14,440

 

High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA)
  2022 2021
HDHP — Maximum annual out-of-pocket limit (excluding premiums):
Self-only coverage $7,050 $7,000
Family coverage $14,100 $14,000
HDHP — Minimum annual deductible:
Self-only coverage $1,400 $1,400
Family coverage $2,800 $2,800
HSA — Annual contribution limit:
Self-only coverage $3,650 $3,600
Family coverage $7,300 $7,200
Catch-up contributions (age 55 or older)± $1,000 $1,000

ACA In-Network Out-Of-Pocket Limits For Non-Grandfathered Plan

Note: This is different than the HDHP Maximum out-of-pocket limit described above

Self-only coverage $8,700 $8,550
Family coverage $17,400 $17,100

 

Retirement Plan Limits 2022 2021
Annual compensation limit $305,000 $290,000
401(k), 401(k) Roth & 403(b) contributions $20,500 $19,500
Catch-up contributions (if age 50 or older) $6,500 $6,500
Highly compensated employee threshold $135,000 $130,000
Key employee officer compensation threshold $200,000 $185,000
Defined benefit plan annual benefit and accrual limit $245,000 $230,000
Defined contribution plan annual contribution limit $61,000 $58,000
Social Security Taxable Wage Base $147,000 $142,800

 

* The dollar limits are generally applied on a calendar year basis; however, certain dollar limits are applied on a plan-year, tax-year, or limitation-year basis.
± Not indexed for cost-of-living adjustments.