The Internal Revenue Service today released updated contribution limits—adjusted for inflation—for health savings accounts for 2023. For calendar year 2023, the annual limitation on deductions are: $3,850 for an individual with self-only coverage under a high-deductible health plan and $7,750 for an individual with family coverage under a high-deductible health plan.
For calendar year 2023, a “high-deductible health plan” is defined as a health plan with an annual deductible that is not less than $1,500 for self-only coverage or $3,000 for family coverage, and for which the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $7,500 for self-only coverage or $15,000 for family coverage.
