Rev. Proc. 2022-24: HSA inflation-adjusted amounts for 2023

The inflation-adjusted limits related to health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2023

The inflation-adjusted limits related to HSAs and high deductible health plans for 2023

The IRS today released an advance version of Rev. Proc. 2022-24 that provides the inflation-adjusted limits related to health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2023.

Rev. Proc. 2022-24 [PDF 54 KB] provides the 2023 annual limitation on deductions under section 223(b)(2)(A) and (B) for contributions to HSAs, respectively, for:

  • An individual with self-only coverage under a HDHP—$3,850 (an increase from $3,650 for 2022) 
  • An individual with family coverage under a HDHP—$7,750 (an increase from $7,300 for 2022) 

For calendar year 2023, a “high deductible health plan” or “HDHP” is defined under section 223(c)(2)(A) as a health plan:

  • With an annual deductible that is not less than $1,500 for self-only coverage or $3,000 for family coverage, and
  • For which the sum of the annual deductible plus annual out-of-pocket expenses—such as co-payments or other amounts, but not premiums—does not exceed $7,500 for self-only coverage (an increase from $7,050 for 2022) or $15,000 for family coverage (an increase from $14,100 for 2022).

Read TaxNewsFlash for the HSA and HDHP limits adjusted for inflation for 2022.

 

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