IRS Releases HSA Adjusted Amounts for 2023

2022-05-02T20:02:40+00:00

On Friday, April 29, the IRS released Rev. Proc. 2022-24, which outlines the 2023 inflation-adjusted amounts for Health Savings Accounts and compatible High Deductible Health Plans. Adjusted amounts include HDHP calendar year minimum deductibles, out-of-pocket maximums, and the annual HSA contribution limits as follows: 2023 2022 Change HDHP Minimum Deductible Individual $1,500 $1,400 +$100 Family [...]

IRS Releases HSA Adjusted Amounts for 20232022-05-02T20:02:40+00:00

HSA Limits Increase for 2021

2020-10-29T14:21:46+00:00

Inflation-adjusted limits for contributions to health savings accounts and high deductible health plans for the coming year were just announced. According to the announcement, eligible individuals with self-only HDHP coverage will be able to contribute $3,600 to their HSA in 2021, an increase of $50 from 2020. Those with family coverage will be able to [...]

HSA Limits Increase for 20212020-10-29T14:21:46+00:00

No-Deductible COVID-19 Care

2020-06-11T14:37:24+00:00

Uninsured people needing medical treatment for the coronavirus will be able to get that treatment without concerns about out-of-pocket costs or unexpected charges. Thanks to the federal stimulus package passed by Congress in early April, hospitals and healthcare providers that treat these folks will be paid for unreimbursed care at current Medicare rates. While the [...]

No-Deductible COVID-19 Care2020-06-11T14:37:24+00:00

IRS Reverses HSA Family Contribution Limits – Again!

2018-04-27T19:52:02+00:00

In March, due to the new inflation-adjustment calculations required under the Tax Cuts and Jobs Bill Act, the IRS announced in revenue ruling 2018-27 that the previously released (in May 2017) $6,900 family contribution limit would be reduced to $6,850. Since excess contributions are subject to a 6% excise tax, many employers and individuals who [...]

IRS Reverses HSA Family Contribution Limits – Again!2018-04-27T19:52:02+00:00

IRS Adjusts HSA Limits for 2018

2017-05-05T20:25:50+00:00

The IRS has released the inflation-adjusted contribution and related amounts for health savings accounts (HSAs) and HSA-compatible high-deductible health plans, or HDHPs, for 2018. These limits are tied to changes in the Consumer Price Index by application of the cost-of-living adjustment rules. The limits for 2018 are set forth below. 2018 HSA Limits Annual HSA [...]

IRS Adjusts HSA Limits for 20182017-05-05T20:25:50+00:00
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