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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, headquartered in Upstate New York, is a human resource management outsourcing and consulting firm serving clients throughout the United States for over thirty years. 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.