On May 10, 2020, the IRS Revenue Procedure 2021-25 Released to Provide the Inflation Adjusted Limits on Health Savings Accounts (HSA) and High Deductible Health Plans (HDHP) for 2022. The IRS is required to publish these limits by June 1 of each. year.
These limits include:
- Maximum HSA grant limit;
- Minimum Deductible Amount for HDHP s; and
- The Maximum Expenditure Limit for HDHPs.
These limits vary depending on whether an individual has only self- or family coverage under an HDHP.
Qualified individuals with self-adhesive HDHP coverage will be able to contribute $ 3,650 to their HSAs for 2022, up from $ 3,600 for 2021. Qualified individuals with family HDHP coverage will be able to contribute $ 7,300 to their HSAs. for 2022, up from $ 7,200 for 2021. Individuals 55 years of age or older are allowed to provide an additional $ 1,000 "collection allowance" to their HSA.
The minimum deductible amount for HDHPs is the same during the 2022 planning year ($ 1400 for sole coverage and $ 2800 for family coverage). However, HDHP's maximum expense limit increases free of charge to $ 7,050 for self-coverage and $ 14,100 for family coverage.
You can download our handy chart here: HSA HDHP limits increase for 2022