HSA Contribution Limits and Other Requirements

Annually adjusted contribution limits and other requirements must be met if you're covering health care costs with a Health Savings Account.

picture of a clipboard with "health savings account" written on it
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For many people, health savings accounts (HSAs) offer a tax-friendly way to pay medical bills. There's an "above-the-line" deduction available for contributions to an HSA, money put in an HSA by your employer is excluded from gross income, earnings are tax free, and there's no tax on distributions if you use the funds to pay qualified medical expenses. You can also hold on to the account when you're no longer working for your current employer and use it tax-free for medical expenses at a different job or even during retirement. All-in-all, HSAs can be a great tool for covering your health care costs.

But there are a handful of limitations and requirements that you need to know about, and they're adjusted for inflation each year. They apply to the amount you can contribute to an HSA for the year, the minimum deductible for your health insurance plan, and your annual out-of-pocket expenses. If you or your health plan are not in compliance with the restrictions in place for any particular year, then you can say goodbye to the HSA tax savings for that year.

HSA Contribution Limits

Your contributions to an HSA are limited each year. For 2022, you can contribute up to $3,650 if you have self-only coverage or up to $7,300 for family coverage. If you're 55 or older at the end of the year, you can put in an extra $1,000 in "catch up" contributions. However, your contribution limit is reduced by the amount of any contributions made by your employer that are excludable from your income, including amounts contributed to your HSA account through a cafeteria plan. You can contribute to an HSA for 2022 up until your 2022 federal income tax return is due – which will be April 18, 2023. The table below shows how the contribution limits have increased over the past few years (and for 2023 HSAs).

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YearSelf-Only CoverageFamily CoverageCatch-Up Contributions
2023$3,850$7,750$1,000
2022$3,650$7,300$1,000
2021$3,600$7,200$1,000
2020$3,550$7,100$1,000
2019$3,500$7,000$1,000
2018$3,450$6,900$1,000
2017$3,400$6,750$1,000

Health Plan Minimum Deductibles

To contribute to an HSA, you must be covered under a high deductible health plan. For 2022, the health plan must have a deductible of at least $1,400 for self-only coverage or $2,800 for family coverage.

The 2022 minimum deductible amounts are the same as the 2021 figures. The following table shows the minimum deductible amounts for the six most recent years (plus for 2023).

YearSelf-Only CoverageFamily Coverage
2023$1,500$3,000
2022$1,400$2,800
2021$1,400$2,800
2020$1,400$2,800
2019$1,350$2,700
2018$1,350$2,700
2017$1,300$2,600

Limits on Out-of-Pocket Expenses

The health plan must also have a limit on out-of-pocket medical expenses that you're required to pay. Out-of-pocket expenses include deductibles, copayments and other amounts, but don't include premiums. For 2022, the out-of-pocket limit for self-only coverage is $7,050 or $14,100 for family coverage. According to the IRS, only deductibles and expenses for services within the health plan's network should be used to determine if the limit applies.

As the table below indicates, the health plan out-of-pocket expense limits for HSAs have increased each year from 2017 to 2023 to account for inflation. That includes a $50 jump for self-only coverage and a $100 increase for family coverage from 2021 to 2022 (and even larger increases for 2023).

YearSelf-Only CoverageFamily Coverage
2023$7,500$15,000
2022$7,050$14,100
2021$7,000$14,000
2020$6,900$13,800
2019$6,750$13,500
2018$6,650$13,300
2017$6,550$13,100
Rocky Mengle
Senior Tax Editor, Kiplinger.com

Rocky is a Senior Tax Editor for Kiplinger with more than 20 years of experience covering federal and state tax developments. Before coming to Kiplinger, he worked for Wolters Kluwer Tax & Accounting and Kleinrock Publishing, where he provided breaking news and guidance for CPAs, tax attorneys, and other tax professionals. He has also been quoted as an expert by USA Today, Forbes, U.S. News & World Report, Reuters, Accounting Today, and other media outlets. Rocky has a law degree from the University of Connecticut and a B.A. in History from Salisbury University.