HSA/HDHP Limits Increase for 2022
Each year, the IRS announces inflation-adjusted limits for HSAs and HDHPs. On May 10, 2021, the IRS released Revenue Procedure 2021-25 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2022.
- Eligible individuals with self-only HDHP coverage will be able to contribute $3,650 to their HSAs for 2022, up from $3,600 for 2021.
- Eligible individuals with family HDHP coverage will be able to contribute $7,300 to their HSAs for 2022, up from $7,200 for 2021.
- Individuals who are age 55 or older are permitted to make an additional $1,000 “catch-up” contribution to their HSAs.
- The minimum deductible amount for HDHPs remains the same for 2022 plan years ($1,400 for self-only coverage and $2,800 for family coverage). However, the HDHP maximum out-of-pocket expense limit increases to $7,050 for self-only coverage and $14,100 for family coverage.
The adjusted contribution limits for HSAs take effect as of Jan. 1, 2022. The adjusted HDHP cost-sharing limits take effect for the plan year beginning on or after Jan. 1, 2022.
Refer to the attached compliance bulletin for details and see your NEEBCo representative with questions.