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IRS Adjusts HSA Limits for 2022

 

As it does each year, the IRS has announced changes for health savings accounts, which are associated with high-deductible health plans.

The figures for 2022:

  • Self-only: $3,650 (a $50 increase from 2021).
  • Family: $7,300 (a $100 increase from 2021).

According to the Society for Human Resource Management, the government bases its decision on the Consumer Price Index for All Urban Consumers for the 12-month period ending on March 31.

The IRS has made a similar adjustment to maximum out-of-pocket amounts:

  • Self-only: $7,050 (a $50 increase from 2021).
  • Family: $14,100 (a $100 increase from 2021).

The catch-up contribution amount for those 55 and older is not automatically adjusted and remains at $1,000.

Also remaining the same are minimum deductibles:

  • Self-only: $1,400.
  • Family: $2,800.

More information is available in IRS Rev. Proc. 2021-25.

 

 

 

 
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Coulter & Justus, P.C.
Coulter & Justus, PC
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Knoxville, TN 37932
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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