IRS Releases 2023 Cost of Living Adjustments for Certain Tax Provisions
With the release of Revenue Procedure 2022-38 and Revenue Procedure 2022-24 the IRS has set the health & welfare limits for the 2023 plan year.
The chart below details the changes made to the limits:
| Welfare Plan Limits | ||
| 2023 | 2022 | |
| Health FSA Max | $3,050 | $2,850 |
| Dependent Care FSA Max | $5,000 | $5,000 |
| Adoption Credit Limit | $15,950 | $14,890 |
| HDHP Min Annual Deductible (Single) | $1,500 | $1,400 |
| HDHP Min Annual Deductible (Family) | $3,000 | $2,800 |
| HDHP Out of Pocket Max (Single) | $7,500 | $7,050 |
| HDHP Out of Pocket Max (Family) | $15,000 | $14,100 |
| HSA Max Contribution Limit (Single) | $3,850 | $3,650 |
| HSA Max Contribution Limit (Family) | $7,750 | $7,300 |
| HSA Catch-Up Contribution Limit (Not Indexed) | $1,000 | $1,000 |
| TSA Parking and Mass Transit Monthly Limit | $300 | $280 |
| QSEHRA Reimbursement Limit (Single) | $5,850 | $5,450 |
| QSEHRA Reimbursement Limit (Family) | $11,800 | $11,050 |