Health Savings Accounts Annual Limits – 2022
A health savings account (HSA) is a tax-exempt account that a qualified individual can establish to pay or reimburse certain medical expenses. To be eligible for a HSA, a person must be covered under a qualified, high deductible health plan (HDHP), not enrolled in Medicare or other health coverage and cannot be claimed as a dependent on someone else’s tax return. There are certain thresholds established by the Internal Revenue Service concerning HDHP plan design and HSA contributions. Those amounts are in the table below.
| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| HSA Contribution Limit – Single | $3,500 | $3,550 | $3,600 | $3,650 |
| HSA Contribution Limit – Family | $7,000 | $7,100 | $7,200 | $7,300 |
| HSA Catch-Up Contribution (for those age 55 or older*) | $1,000 | $1,000 | $1,000 | $1,000 |
| HDHP minimum deductible – Single coverage | $1,350 | $1,400 | $1,400 | $1,400 |
| HDHP minimum deductible – Family coverage | $2,700 | $2,800 | $2,800 | $2,800 |
| HDHP maximum out-of-pocket amount – Single coverage | $6,750 | $6,900 | $7,000 | $7,050 |
| HDHP maximum out-of-pocket amount – Family coverage | $13,500 | $13,800 | $14,000 | $14,100 |
There are many benefits to opening a Health Savings Account. Please contact an Assurex Global Partner for additional assistance.
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