IRS Announces Increased HSA and HDHP Limits for 2023

The Internal Revenue Service (IRS) recently announced in Revenue Procedure 2022-24 cost-of-living adjustments to the applicable dollar limits for health savings accounts (HSAs) and high-deductible health plans (HDHPs) for 2023.

The table below compares the applicable dollar limits for HSAs and HDHPs for 2023 and 2022.

Plan Limits		2023	2022	Change from 2022
HSA – annual contribution limit1	Self-only coverage	$3,850	$3,650	Increase of $200
	Family coverage	$7,750	$7,300	Increase of $450
HSA – catch-up contribution limit	Age 55 or older	$1,000	$1,000	No change
HDHP – minimum annual deductible	Self-only coverage	$1,500	$1,400	Increase of $100
	Family coverage	$3,000	$2,800	Increase of $200
HDHP – maximum annual out-pocket limit (deductibles, copayments and other amounts, excluding premiums)	Self-only coverage	$7,500	$7,050	Increase of $450
	Family coverage	$15,000	$14,100	Increase of $900

Next Steps for Employers

• Review the table above to be informed of 2023 plan and contribution limits for January 1, 2023.

• As you prepare for the 2023 plan year, update payroll and benefit administration systems with these new limits for 2023 and revise applicable plan communications (e.g. open enrollment materials and summary plan descriptions) for 2023.

Reach out to your Risk Strategies account team with any questions. Risk Strategies is committed to keeping employers informed and up to date. 

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¹ Includes both employee and employer contribution amount limits