HSA/HDHP Limits Increase for 2023

On April 29, 2022, the IRS released Revenue Procedure 2022-24 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2023. The IRS is required to publish these limits by June 1 of each year.

These limits include:

• The maximum HSA contribution limit;
• The minimum deductible amount for HDHPs; and
• The maximum out-of-pocket expense limit for HDHPs.

Highlights

• Each year, the IRS announces inflation-adjusted limits for HSAs and HDHPs.
• By law, the IRS is required to announce these limits by June 1 of each year.
• The adjusted contribution limits for HSAs take effect as of Jan. 1, 2023.
• The adjusted HDHP cost-sharing limits take effect for the plan year beginning on or after Jan. 1, 2023.

Important Dates

• January 1, 2023
  • The new contribution limits for HSAs become effective.
• 2023 Plan Years
  • The HDHP cost-sharing limits for 2023 apply for plan years beginning on or after Jan. 1, 2023.

Click here to learn more and download the latest Compliance Bulletin