The IRS has announced 2022 health savings account (HSA) contribution limits as part of the release of Revenue Procedure 2021-25.
2022 HSA contribution limits:
| HSA | 2021 | 2022 |
| Self-only contribution limit | $3,600 | $3,650 |
| Family contribution limit | $7,200 | $7,300 |
The contribution limits for HSAs in 2022 will increase to $3,650 for single and $7,300 for family.
2022 HDHP amounts/limits
2022 high-deductible health plan (HDHP) amounts and expense limits were also announced.
| HDHP (self-only coverage) | 2021 | 2022 |
| Annual deductible not less than: | $1,400 | $1,400 |
| Annual out-of-pocket expenses don’t exceed: | $7,000 | $7,050 |
| HDHP (family coverage) | 2021 | 2022 |
| Annual deductible not less than: | $2,800 | $2,800 |
| Annual out-of-pocket expenses don’t exceed: | $14,000 | $14,100 |
The above limits means that an HDHP in 2022 is a health plan “with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage, and the annual out-of-pocket expenses do not exceed $7,050 for self-only coverage or $14,100 for family coverage,” according to the IRS notice.
Your employees must be enrolled in an HDHP in order to be eligible to participate in an HSA. HDHPs are often referred to as HSA-eligible health plans.
Interested in learning more about Checkwriters HSA administration services? Email us at S125benefits@migrate.checkwriters.com.
Disclaimer: The information contained herein is not intended to be construed as legal advice, nor should it be relied on as such. Employers should closely monitor the rules and regulations specific to their jurisdiction(s) and should seek advice from counsel relative to their rights and responsibilities.