The IRS released the 2023 Health Savings Account (HSA) contribution limits, the minimum required HDHP deductibles, and the HDHP out-of-pocket maximums. Each year, the IRS reviews these figures based on a cost-of-living adjustment. The figures below pertain to HSAs and HSA-qualified High Deductible Health Plans.
2023 Annual HSA Contribution Limits
Single: $3,850 ($200 increase from 2022)
Family: $7,750 ($450 increase from 2022)
2023 Annual Minimum HDHP Required Deductibles
Single: $1,500 ($100 increase from 2022)
Family: $3,000 ($200 increase from 2022)
2023 HDHP Out-of-Pocket Maximums
Single: $7,500 ($450 increase from 2022)
Family: $15,000 ($900 increase from 2022)
Federal rules permit catch-up contributions to HSAs if the accountholder is 55 or older, allowing an increase in annual contributions up to an additional $1,000 per year. Accountholders are eligible for this extra contribution if they are 55 years or older, or turning 55 anytime during that year. If the accountholder’s spouse is also turning 55, the spouse cannot contribute their catch-up contribution to the accountholder’s HSA. However, if the spouse meets the eligibility requirements, they can open their own HSA and contribute catch-up contributions to that account.
More information can be found at: