Updated HSA, HDHP and Excepted Benefit HRA Limits for 2023

Employee Benefits

Updated HSA, HDHP and Excepted Benefit HRA Limits for 2023

On April 29, 2022, the IRS released Revenue Procedure 2022-24, providing the following:

  • 2023 inflation-adjusted limits for HSA contributions
  • HDHP minimum deductible amount and maximum out-of-pocket costs
  • Excepted benefit HRA maximum new-contribution amount

All limits are effective January 1, 2023, and the new amounts for the HDHP deductible and out-of-pocket limits apply to HDHPs with plan years beginning in 2023.

The adjusted amounts are as follows:

2023 HSA contribution limits:

  • The 2023 annual HSA contribution limit for individuals with self-only HDHP coverage is $3,850 (up from $3,650 in 2022).
  • The 2023 annual HSA contribution limit for individuals with family HDHP coverage is $7,750 (up from $7,300 in 2022).

2023 HDHP minimum deductible amounts and maximum out-of-pocket costs:

  • The 2023 HDHP minimum deductible amount for selfonly coverage is $1,500 (up from $1,400 in 2022). The IRS maximum annual out-of-pocket cost limit is $7,500 (up from $7,050 in 2022).
  • The 2023 HDHP minimum deductible amount for family coverage is $3,000 (up from $2,800 in 2022). The IRS maximum annual out-of-pocket cost limit is $15,000 (up from $14,100 in 2022).

2023 excepted-benefit HRA maximum new-contribution amount:

  • The 2023 excepted-benefit HRA maximum newcontribution amount is $1,950 (up from $1,800 in 2022).

Plan sponsors offering HDHP plans will find the updated figures useful in plan design for the 2023 plan year.

Please contact your Brown & Brown team with any questions.

Regulatory and Legislative Strategy Group

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