IRS Announces 2023 Contribution Limits for HSAs

The Internal Revenue Service (IRS) has announced the 2023 contribution limits for Health Savings Accounts (HSAs) Adjusted for inflation, contribution limits will increase sharply, from $3,650 to $3,850 (self-only coverage), and from $7,300 to $7,750 (family coverage). Catch-up contributions (age 55 and older) remain at $1,000, as set by statute. For more information, including minimum deductible and maximum out-of-pocket expenses for high-deductible health plans (HDHPs), see Revenue Procedure 2022-24