IRS releases inflation-adjusted limits for HSAs and HDHPs for 2023
Revenue Procedure 2022-24 outlines the increased limits for health savings accounts and high deductible health plans for 2023. Here’s what plan sponsors should know.
On April 29, 2022, the IRS released Revenue Procedure 2022-24, announcing the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2023. These limits include the maximum HSA contribution limit, minimum deductible for HDHPs, and the maximum out-of-pocket expense limit for HDHPs. The adjusted limits will go into effect as of Jan. 1, 2023.
Download the bulletin to get a breakdown of the increased limits for 2023 compared to 2022. Employers that sponsor HDHPs or employers that allow employees to make pre-tax HSA contributions should carefully review the action items and important dates outlined within.
This compliance bulletin is not intended to be exhaustive, nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel for legal advice. ©2022 Zywave, Inc. All rights reserved.