{"id":164,"date":"2023-10-25T20:43:35","date_gmt":"2023-10-25T20:43:35","guid":{"rendered":"https:\/\/blog.suryapadhiea.com\/blog\/?p=164"},"modified":"2023-10-25T20:43:35","modified_gmt":"2023-10-25T20:43:35","slug":"tax-year-2023-health-savings-account-hsatax-year-2023","status":"publish","type":"post","link":"https:\/\/blog.suryapadhiea.com\/blog\/tax-planning\/tax-year-2023-health-savings-account-hsatax-year-2023\/","title":{"rendered":"Tax Year 2023: Health savings account (HSA)Tax Year 2023"},"content":{"rendered":"\n<p>Health savings account (HSA) contribution limits for 2023 are going up significantly in response to the recent inflation surge, the IRS announced April 29, giving employers that sponsor high-deductible health plans (HDHPs) plenty of time to prepare for open enrollment season later this year.<\/p>\n\n\n\n<p>The annual inflation-adjusted limit on HSA contributions for self-only coverage will be&nbsp;<strong>$3,850<\/strong>, up from $3,650 in 2022. The HSA contribution limit for family coverage will be $<strong>7,750<\/strong>, up from $7,300. The adjustments represent approximately a 5.5 percent increase over 2022 contribution limits, whereas these limits rose by about 1.4 percent between 2021 and 2022.<\/p>\n\n\n\n<p>In&nbsp;<a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-22-24.pdf\">Revenue Procedure 2022-24<\/a>, the IRS confirmed HSA contribution limits effective for calendar year 2023, along with minimum deductible and maximum out-of-pocket expenses for the HDHPs with which HSAs are paired.<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>HSA contribution limit&nbsp;(employer + employee)<\/td><td>Self-only:&nbsp;$3,850&nbsp; Family:&nbsp;$7,750<\/td><\/tr><tr><td>HSA catch-up contributions&nbsp;(age 55 or older)<\/td><td>$1,000 &nbsp;<\/td><\/tr><tr><td>HDHP minimum deductibles &nbsp;<\/td><td>Self-only:&nbsp;$1,500 Family:&nbsp;$3,000 &nbsp;<\/td><\/tr><tr><td>HDHP maximum out-of-pocket amounts&nbsp;(deductibles, co-payments and other amounts, but not premiums)<\/td><td>Self-only:&nbsp;$7,500 Family:&nbsp;$15,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Source : IRS Revenue Procedure 2022-24<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Health savings account (HSA) contribution limits for 2023 are going up significantly in response to the recent inflation surge, the IRS announced April 29, giving employers that sponsor high-deductible health plans (HDHPs) plenty of time to prepare for open enrollment season later this year. The annual inflation-adjusted limit on HSA contributions for self-only coverage will [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14,9],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/164"}],"collection":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/comments?post=164"}],"version-history":[{"count":1,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/164\/revisions"}],"predecessor-version":[{"id":166,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/posts\/164\/revisions\/166"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/media\/165"}],"wp:attachment":[{"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/media?parent=164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/categories?post=164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.suryapadhiea.com\/blog\/wp-json\/wp\/v2\/tags?post=164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}