What the New HSA Limits for 2022 Means For You
The IRS Announces 2022 HSA and Qualified HDHP Limits
The IRS announced the 2022 limits for Health Savings Accounts (HSA) and Qualified High Deductible Health Plans (HDHP). This allows employers or plan sponsors sufficient time to prepare for Open Enrollment period for 2022.
The New HSA Rules for 2022
Health Savings Account (HSA) contribution limits for 2022 are being increased by $50 for self-only coverage and a $100 increase for family coverage. The annual limit on HSA contributions will increase from $3,600 to $3,650 for self-only coverage and increase from $7,200 to $7,300 for family coverage.
There is no change to the HSA catch-up contribution limits for individuals that are age 55 or older, which remains at $1,000.
There is also no change to the Qualified High Deductible Health Plan (HDHP) minimum deductible amount for self-only or family. It remains $1,400 for self-only coverage and $2,800 for family coverage.
There is however, an increase of $50 for self-only and $100 for family Qualified HDHP maximum out-of-pocket amounts. The Qualified HDHP maximums will increase from $7,000 to $7,050 for self-only and from $14,000 to $14,100 for family.
The Qualified HDHP maximum amounts includes deductible, copays, etc., but does not include premiums.
The Difference Card HSA Policy
The Difference Card HSA enforces contribution limits to protect employees from adverse consequences of over-contributing to their HSA.
We will automatically apply and enforce contribution limits in 2022.
We applaud the Treasury for increasing HSA contribution limits without increasing out-of-pocket requirements.
Interested in learning more about HSAs?
A Health Savings Account is a personal savings account that allows employees to set aside pre-tax dollars for current and future healthcare expenses for themselves and their dependents, even if they are not covered under your company’s healthcare plan. Learn more on our HSA Services Page.