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IRS Releases 2023 Limits for HSAs

IRS Releases 2023 Limits for HSAs 

On April 29, 2022 the Internal Revenue Service released Revenue Procedure 2022-24 which provides the 2023 inflation adjusted amounts for high deductible health plans (HPHPs) and Health Savings Accounts.

The 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