The IRS (Internal Revenue Services) announced 2023 contribution limits for health savings accounts (HSAs). Employees may contribute up to $3,850 for individual accounts and $7,750 for family accounts. These are notable increases to the respective $3,650 and $7,300 limits in 2022.
These are notable increases to the respective $3,650 and $7,300 limits in 2022. Catch-up contributions stay consistent with the previous year at $1,000. HSAs often accompany high-deductible health plans (HDHPs). The minimum qualifying deductible for HDHPs in 2023 is $1,500 for individual plans and $3,000 for family plans. Individual HDHPs are capped at a $7,500 maximum out of pocket limit. Family limits are getting a $900 increase from 2022 limits, with a maximum of $15,000.
