2023 Health Savings Account Limits - The IRS recently announced updated Health Savings Account maximums for the 2023 calendar year.

The HSA annual contribution limit for those with individual coverage will increase from $3,650 to $3,850. The family contribution limit will increase from $7,300 to $7,750. The 2023 minimum statutory deductible for an HSA-qualified High Deductible Health Plan will be $1,500/Single and $3,000/Family, the 2023 out-of-pocket limit for these plans will be $7,500/Single and $15,000/Family. The 2023 HSA Catch-up contribution remains steady at $1,000.

2022 Medical FSA, QTA, QSEHRA and HSA limits - The IRS has announced that the 2022 annual salary reduction limit for Medical FSAs is $2,850; an increase of $100.00 over the 2021 limit. The annual maximum for Dependent Care FSAs is $5,000 or $2,500, depending upon federal tax filing status. The Medical FSA Carryover limit increases from $550 to $570. The monthly maximum available under Transit and Parking Account plans increases from $270 to $280 while the maximum annual benefit available under a QSEHRA increases to $5,450 (employee only) and $11,500 (family). As a reminder, the annual 2022 maximum contributions for Health Savings Accounts are $3,650 (employee only) and $7,300 (family). The HSA Catch-up contribution remains steady at $1,000. The Compliance Alert we distributed can be found here.