Compliance Update: 2023 HSA & High Deductible Plan (HDHP) Information

Compliance, Employee Benefits

On April 30, 2022 the IRS issued the limits for 2023 on Health Savings Accounts (HSAs) and the associated high deductible health plans (HDHPs) in Revenue Procedure 2022-24.

Health Savings Accounts

Minimum HDHP Deductible$1,500/single$3,000/family
Maximum Contributions$3,850/single$7,750/family
Out-of-Pocket Maximum$7,500/single$15,000/family

Reminder: The Affordable Care Act (ACA) out-of-pocket limits differ from the Internal Revenue Service (IRS) out-of-pocket limits for HSA qualified HDHPs.

Affordable Care Act – Out-of-Pocket Maximums

Out-of-Pocket Maximum 2023$9,100/single$18,200/family

With the ACA limits, plans must apply the annual individual out-of-pocket (OOP) maximum for each individual in a family plan. Employers offering HSAs, however, must make sure they satisfy the lower OOP maximums and not these higher ACA limits.

The information provided is a summary of laws and regulations relating to employee benefit plan compliance. This information should not be construed as legal advice.

In all cases, employers should consult with their own legal counsel.

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