Late last week, the IRS released updates to the maximum annual 2023 contribution limits for HSAs under high-deductible health plans (HDHPs). These adjustments, which have increased slightly from 2022, apply to both individual and family coverage. The updates also include deductible minimums and out-of-pocket expense limits for HDHPs and an increase to the maximum amount that may be made newly available for excepted-benefit Health Reimbursement Arrangements. The 2023 limits are summarized below.
Annual HSA Contribution Limits
- Individual with self-only coverage is $3,850
- Individual with family coverage is $7,750
Annual Minimum Deductibles for HDHPs
- Self-only coverage $1,500 or more
- Family coverage $3,000 or more
Annual Maximum out-of-Pocket Expense Limits for HDHPs
- Self-only coverage may not exceed $7,500
- Family coverage may not exceed $15,000
Plan Year Excepted-Benefit HRA Maximum
- Maximum amount for a plan year may not exceed $1,950.
LEARN MORE: IRS Releases 2023 HSA, HDHP Limits