IRS Reveals 2022 HSA Contribution Limits

2022 HSA contribution limits

The Internal Revenue Service (IRS) published the approved contribution limits for Health Savings Accounts (HSAs) in 2022. In the notice, the IRS also revealed high deductible health plan minimum deductibles and limits on out-of-pocket expenses. Read on to find out more about 2022 HSA contribution limits.

2022 HSA Contribution Limits

The annual contribution limits for HSAs goes up in 2022 for both self-only and family coverage. For those with self-only coverage, the limit increases to $3,650; for those with family coverage, the annual limit increases to $7,300.

Catch up contributions stay at $1,000 over the annual limit ($4,650 for self-only and $8,300 for family coverage).

HDHP Minimum Deductibles

The minimum deductible for a qualified high deductible health plan (HDHP) will not go up. An HDHP must have a $1,400 deductible for self-only plans and $2,800 for family plans.

Out-of-Pocket Limits

The out-of-pocket limits will have a slight increase. Self-only coverage limits go up $50 to $7,050, while family coverage limits increase $100 to $14,100.

HSA Contribution Limits, HDHP Deductibles, Out-of-Pocket Limits

    HSA Contribution
Limits
HDHP Minimum
Deductibles
Out-of-Pocket
Limits
2022
IRS Rules
Self-only coverage $3,650 (+$50)
$4,650 (+Catch up contributions)
$1,400 $7,050 (+$50)
  Family coverage $7,300 (+$100)
$8,300 (+Catch up contributions)
$2,800 $14,100 (+$100)
2021 Self-only coverage $3,600 $1,400 $7,000
  Family coverage $7,200 $2,800 $14,000

HSA Knowledge

  • HSA owners have until the tax deadline to contribute to their accounts for the previous year. In 2022, the tax deadline was extended to May 17.
  • Items such as COVID-19 PPE, over-the-counter medications, and menstrual care products are now eligible healthcare expenses.
  • HSA owners can file a reimbursement claim for qualified expenses at any time after the HSA is opened, even months or years later.
  • Contributions may be updated at any time for any reason during the plan year.

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