IRS Announces 2022 HSA Contribution Limits
The IRS announced Monday, May 10th, HSA limits for 2022. The IRS confirmed HSA contribution limits along with minimum deductible and maximum out-of-pocket expenses for the HDHPs with which HSAs are paired for 2022.
Self-Only Enrollment in a High Deductible Health Plan (HDHP) 2022 HSA Limits:
· Maximum annual contribution: $3,650 ($3,600 in 2021)
· Minimum deductible for the HDHP to be HSA-qualified: $1,400 (no change from 2021)
· Maximum HDHP out-of-pocket limit: $7,050 ($7,000 in 2021)
Family Enrollment in a High Deductible Health Plan 2022 HSA Limits:
· Maximum annual contribution: $7,300 ($7,200 in 2021)
· Minimum deductible for the HDHP to be HSA-qualified: $2,800 (no change from 2021)
· Maximum HDHP out-of-pocket: $14,100 ($14,000 in 2021)
There was no change to the HSA account holders age 55+ additional $1,000 catch-up contribution.
HSA Important Reminders:
- The 2021 tax filing deadline is extended to May 17. HSA participants can make contributions for 2020 up to the deadline.
- HSA's are NOT "use it or lose it". You can keep your HSA account for life, regardless of employment status or medical coverage.
As always, Acuity Group will keep you informed of any legislation that will impact you & your employees. Please feel free to reach out to your Acuity Account Management team for any additional information.