Monday, May 2, 2022

HSA Inflation Adjusted Amounts for Tax Year 2022 , Tax Year 2023

HSA Inflation Adjusted Amounts Cross References
IRC §223
Rev. Proc. 2022-24
Rev. Proc. 2021-25
Rev. Proc. 2020-32

The IRS recently announced inflation adjusted amounts for Health Savings Accounts (HSAs) for 2023. These amounts are reflected in the chart below in comparison to previous years.
HSA Limitations
Annual contribution is limited to:
2023
2022
2021
Self-only coverage, under age 55
$3,850
$3,650
$3,600
Self-only coverage, age 55 or older
$4,850
$4,650
$4,600
Family coverage, under age 55
$7,750
$7,300
$7,200
*Family coverage, age 55 or older
$8,750
$8,300
$8,200
Minimum annual deductibles:
Self-only coverage
$1,500
$1,400
$1,400
Family coverage
$3,000
$2,800
$2,800
Maximum annual deductible and out-of-pocket expense limits:
Self-only coverage
$7,500
$7,050
$7,000
Family coverage
$15,000
$14,100
$14,000
*Assumes only one spouse has an HSA. See IRS Pub. 969 if both spouses have separate HSAs.

Sure Financials and Tax Services LLC
Mobile: 908.300.9193 | Fax: 855.753.0066
E-Mail:services@surefintaxsvs.com

No comments:

Post a Comment

What you should know, when investing in Foreign Mutual Funds?

It is common knowledge that citizens and permanent residents of the United States who earn money elsewhere in the world must report and ...