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IRS Announces 2022 Limits for HSAs and High-Deductible Health Plans

On May 10, the Internal Revenue Service (IRS) announced the 2022 inflation-adjusted amounts for health savings accounts (HSAs) as determined under the Internal Revenue Code.

Health savings account (HSA) contribution limits for 2022 are going up $50 for self-only coverage and $100 for family coverage. For calendar year 2022, the annual limit on HSA contributions for an individual with self-only coverage under a high deductible health plan (HDHP) is $3,650 (up from $3,600 for 2021). The annual limit on HSA contributions for an individual with family coverage under an HDHP is $7,300 (up from $7,200 for 2021).

For plan years beginning in 2022, an HDHP is defined as a health plan with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage, and annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) that do not exceed $7,050 for self-only coverage or $14,100 for family coverage.

The IRS announcement may be read here.

HR Works, Inc., headquartered at 200 WillowBrook Office Park in Fairport (Rochester), New York, with an office in East Syracuse, is a human resource management outsourcing and consulting firm serving clients throughout the United States. HR Works provides scalable strategic human resource management and consulting services, including: affirmative action programs; benefits administration outsourcing; HRIS self-service technology; full-time, part-time and interim on-site HR managers; HR audits; legally reviewed employee handbooks and supervisor manuals; talent management and recruiting services; and training of managers and HR professionals.