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2024 Health Savings Account (HSA) Limits

Thanks in part to persistent high inflation, employees will be able to sock away a lot more money in their health savings accounts (HSAs) next year.

Annual HSA contribution limits for 2024 are increasing in one of the biggest jumps in recent years, the IRS announced May 16: The annual limit on HSA contributions for self-only coverage will be $4,150, a 7.8 percent increase from the $3,850 limit in 2023. For family coverage, the HSA contribution limit jumps to $8,300, up 7.1 percent from $7,750 in 2023.

Participants 55 and older can contribute an extra $1,000 to their HSAs. This amount will remain unchanged.

Read the article:
IRS Gives Big Boost to HSA, HDHP Limits in 2024
SHRM | May 2023

Effective date: 1/1/24
IRS Revenue Procedure 2023-23

Law and Consulting Firm Articles

IRS announces 2024 HSA/HDHP and excepted benefit HRA limits
Buck Consultants | May 2023

IRS Announces 2024 Limits for HSAs, HDHPs and Excepted Benefit HRAs
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2024 HSA Limits Are Announced
Ruder | May 2023

2023 Health Savings Account (HSA) Limits

IRS Announces Spike in 2023 Limits for HSAs and High-Deductible Health Plans
SHRM | Apr 2022

Read Revenue Procedure 2022-24


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