Health Savings Account

On Friday, April 29, 2022, the IRS issued their annual inflation-adjusted health savings account (HSA) amounts for 2023, which result in much larger increases than from 2021 to 2022.

IRS Revenue Procedure 2022-24

Accounts 2021 2022 2023
Individual with self-only coverage under a high deductible health plan $3,600 $3,650 $3,850
Individual with family coverage under a high deductible health plan $7,200 $7,300 $7,750

The IRS defines a “high deductible health plan” as a health plan with an annual deductible of no less than $1,500 for self-only coverage or $3,000 for family coverage, and annual out-of-pocket expenses (including deductibles, co-pays, etc.) that do not exceed $7,500 and $15,000 respectfully.

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