2024 HSA & High Deductible Plan (HDHP) Information

Compliance, Employee Benefits

On May 16, 2023 the IRS issued the limits for 2024 on Health Savings Accounts (HSAs) and the associated high deductible health plans (HDHPs) in Revenue Procedure 2023-23.

Health Savings Accounts

Minimum HDHP Deductible$1,600/single$3,200/family
Maximum Contributions$4,150/single$8,300/family
Out-of-Pocket Maximum$8,050/single$16,100/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 2024$9,450/single$18,900/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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