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: 2023Rev. Proc. 2022-24 2022Rev. 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 HDHP – self-only coverage annual deductible not less than: $1,500 $1,400 HDHP – self-only coverage annual out-of-pocket expenses do not exceed: $7,500 $7,050 HDHP – family coverage annual… Read More