The maximum contribution to a health savings account and certain related benchmarks will be sharply higher next year, reflecting inflation-linked adjustments.
The IRS announced the updated amounts last week in Rev. Proc. 2022-24, as it does each year under Sec. 223(g). The revenue procedure also includes the revised maximum amount for excepted-benefit health reimbursement arrangements.
The 2023 maximum contribution by an individual with self-only coverage will be $3,850, representing a $200 increase from 2022, four times the adjustment from 2021 to 2022. For an individual with family coverage, the maximum contribution is $7,750, which is $450 higher than the current limit of $7,300. Learn more.