2023 Limits Announced for High Deductible Health Plans and Health Savings Accounts

By: Megan Diehl, Manager, Compliance Consulting, MZQ Consulting

Late last week, the Internal Revenue Service released updates to the maximum annual 2023 contribution limits for health savings accounts (HSAs) under high deductible health plans (HDHPs). These adjustments, which have increased slightly from 2022, apply to both individual and family coverage. The updates also include deductible minimums and out-of-pocket expense limits for HDHPs and an increase to the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs).

The 2023 limits are summarized below:

Annual HSA Contribution Limits

  • Individual with self-only coverage is $3,850.
  • Individual with family coverage is $7,750.

Annual Minimum Deductibles for HDHPs

  • Self-only coverage $1,500 or more.
  • Family coverage $3,000 or more.

Annual Maximum Out-of-Pocket Expense Limits for HDHPs

  • Self-only coverage may not exceed $7,500.
  • Family coverage may not exceed $15,000.

Plan Year Excepted Benefit HRA Maximum

  • Maximum amount for a plan year may not exceed $1,950.
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