On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year.
These limits include:
| 2024 | 2023 | |
|---|---|---|
| Contribution Limit (Individual) | $4,150 | $3,850 |
| Contribution Limit (Family) | $8,300 | $7,750 |
| Catch-up Contribution (Age 55+) | $1,000 | $1,000 |
| HDHP Minimum Deductible (Indiv) | $1,600 | $1,500 |
| HDHP Minimum Deductible (Fam) | $3,200 | $3,000 |
Contact us with any questions or needed guidance related to employee benefit plans.