The IRS has released the 2023 contribution limits for health savings accounts (HSAs), as well as the 2023 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An HSA is a tax-advantaged account that's paired with an HDHP. An HSA offers several valuable tax benefits:
- You may be able to make pre-tax contributions via payroll deduction through your employer, reducing your current income tax.
- If you make contributions on your own using after-tax dollars, they're deductible from your federal income tax (and perhaps from your state income tax) whether you itemize or not.
- Contributions to your HSA, and any interest or earnings, grow tax-deferred.
- Contributions and any earnings you withdraw will be tax-free if used to pay qualified medical expenses.
Here are the key tax numbers for 2022 and 2023.
Health Savings Accounts
Annual contribution limit |
2022 |
2023 |
Self-only coverage |
$3,650 |
$3,850 |
Family coverage |
$7,300 |
$7,750 |
High-deductible health plan: self-only coverage |
2022 |
2023 |
Annual deductible: minimum |
$1,400 |
$1,500 |
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed |
$7,050 |
$7,500 |
High-deductible health plan: family coverage |
2022 |
2023 |
Annual deductible: minimum |
$2,800 |
$3,000 |
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed |
$14,100 |
$15,000 |
Catch-up contributions |
2022 |
2023 |
Annual catch-up contribution limit for individuals age 55 or older |
$1,000 |
$1,000 |
