The IRS recently announced its annual cost-of-living adjustments affecting health savings accounts (HSAs) for calendar year 2022.- HSA Contribution Limits – The annual HSA contribution limit for individuals with self-only high-deductible health plan (HDHP) coverage increases to $3,650, while the family coverage limit goes up to $7,300.
- HDHP Minimum Required Deductibles – This holds from 2021 at $1,400 for self-only HDHP coverage and $2,800 for family coverage.
- HDHP Out-of-Pocket Maximums – The limit on out-of-pocket expenses, including deductibles and copays (but not premiums), for individual HDHP coverage increases to $7,050, and for family coverage goes up to $14,100.
A reminder: HSA members have a convenient way to make eligible purchases online. HSA Store carries the largest selection of guaranteed HSA-eligible products, including PPE items like masks, hand sanitizer, and sanitizing wipes.
MedBen clients with questions regarding these adjustments are welcome to contact Director of Administration Sharon A. Mills at 800-423-3151, Ext. 438 or smills@medben.com.