IRS Announces 2023 HSA/High Deductible Health Plan Limits

The Internal Revenue Service (IRS) has released Revenue Procedure 2022-24 to announce the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2023, as well as the maximum contribution amount that can be made by an employer to an excepted benefit HRA for plan years beginning in 2023.
These limits vary based on whether an individual has self-only or family coverage under an HDHP and include:

• The maximum HSA contribution limits effective January 1, 2023;
• The minimum deductible amount for HDHPs for 2023 (Note: higher minimum deductible amounts may apply for California insurance policies to comply with California state law requirements);
• The maximum out-of-pocket expense limit for HDHPs for 2023; and
• The maximum contribution to an excepted benefit HRA for the 2023 plan year.

The following chart shows the HSA/HDHP and Excepted Benefit HRA limits for 2023 as compared to 2022:

For additional information, please contact your Burnham Benefits Consultant or Burnham Benefits at 949‐833‐2983 or inquiries@burnhambenefits.com.

Burnham Benefits does not engage in the practice of law and this publication should not be construed as the providing of legal advice or a legal opinion of any kind. The consulting advice we provide is intended solely to assist in assessing its compliance with the Patient Protection and Affordable Care Act and other applicable federal and state law requirements, and is based on Burnham Benefit’s interpretation of federal guidance in effect as of the date of this publication. To the best of our knowledge, the information provided herein, and assumptions relied on, are reasonable and accurate as of the date of this publication. Furthermore, to ensure compliance with IRS Circular 230, any tax advice contained in this publication is not intended to be used, and cannot be used, for purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another person any tax-related matter.