2022 HSA Contribution Limits Announced
Aviben is a market-leading third-party administrator of employee benefits and retirement savings plans with clients across the United States. Since 2005, Aviben has been helping public and private employers of all sizes deliver valuable, money-saving benefits that enhance the health and wealth of employees and their families.
The IRS has announced 2022 health savings account (HSA) contribution limits as part of the release of Revenue Procedure 2021-25. The limits are:
2022 HSA contribution limits:
HSA
Self-only contribution limit
- 2021: $3,600
- 2022: $3,650
Family contribution limit
- 2021: $7,200
- 2022: $7,300
The contribution limits for HSAs in 2022 will increase to $3,650 for single and $7,300 for family.
2022 HDHP amounts/limits
2022 high-deductible health plan (HDHP) amounts and expense limits were also announced.
HDHP (self-only coverage)
Annual deductible not less than
- 2021: $1,400
- 2022: $1,400
Annual out-of-pocket expenses don’t exceed
- 2021: $7,000
- 2022: $7,050
HDHP (family coverage)
Annual deductible not less than
- 2021: $2,800
- 2022: $2,800
Annual out-of-pocket expenses don’t exceed
- 2021: $14,000
- 2022: $14,100
The above limits mean that an HDHP in 2022 is a health plan “with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage, and the annual out-of-pocket expenses do not exceed $7,050 for self-only coverage or $14,100 for family coverage,” according to the IRS notice.
Your employees must be enrolled in an HDHP in order to be eligible to participate in an HSA. HDHPs are often referred to as HSA-eligible health plans.
