Each year in May the IRS releases the inflation adjusted limits for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs) applicable for the following calendar year. The limits announced last month for 2022 in IRS Revenue Procedure 2021-25 are as follows:
2022 HSA Annual Contribution Limits+ :
- Self-Only Coverage: $3,650 (increased from $3,600 in 2021)
- Family Coverage: $7,300 (increased from $7,200 in 2021)
+ Individuals age 55 or older as of the last day of 2022 may contribute an additional $1,000 to their HSA Account for that year (unchanged from 2021).
2022 HDHP Minimum Required Annual Deductibles:
- Self-Only Coverage: $1,400 (unchanged from 2021)
- Family Coverage: $2,800 (unchanged from 2021)
2021 HDHP Maximum Annual Out-of-Pocket Expense Limits:
- Self-Only Coverage: $7,050 (increased from $7,000 in 2021)
- Family Coverage: $14,100 (increased from $14,000 in 2021)
The IRS Revenue Procedure 2021-25 can be found online here.
If you have any questions about these changes or any other rules pertaining to Health Savings Accounts, please submit them to Admin America via our online Q&A forum.