2023 Inflation Limits

Posted by BAS - 05 May, 2022

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The IRS released Revenue Procedure 2022-24 setting inflation adjustments to the dollar limits for HDHPs/HSAs/HRAs for the 2023 tax year. The increases are significant for 2023 due to high inflation. Employers should note the new, upcoming limits for their welfare benefit planning.

  • HDHP Maximum annual out-of-pocket limit
    • Self-only coverage increases from $7,050 in 2022 to $7,500 in 2023
    • Family coverage increases from $14,100 in 2022 to $15,000 in 2023
  • HDHP Minimum annual deductible
    • Self-only coverage increases from $1,400 in 2022 to $1,500 in 2023
    • Family coverage increases from $2,800 in 2022 to $3,000 in 2023
  • HSA Annual contribution limit
    • Self-only coverage increases from $3,650 in 2022 to $3,850 in 2023
    • Family coverage increases from $7,300 in 2022 to $7,750 in 2023
    • Catch-up contributions stay the same in 2022 and 2023 at $1,000
  • Excepted Benefit HRA
    • Annual contribution limit increases from $1,800 in 2022 to $1,950 in 2023

A copy of the publication with the adjustments may be accessed by clicking here

Topics: HR & Benefits Compliance, HR & Benefit Plans, HR & Benefits News, Technology News


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