The IRS has announced a significant increase to health savings account contribution limits for calendar year 2023 in response to inflation.

Self-coverage caps will increase to $3,850 annually.

That is up approximately 5%, or $200 from 2022. 

Family coverage represents an even greater increase, setting the cap at $7,750 annually.

Limits rose less than 1.5% between 2021 and 2022. 

Catch-up contributions for HSA owners who are 55 and older on or before Dec. 31, 2023 remain at $1,000.

Filed Under: Employee Benefits, Healthcare

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