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.