IRS Releases 2022 Key Numbers for Health Savings Accounts
September 21, 2021
The IRS has released the 2022 contribution limits for health savings accounts (HSAs), as well as the 2022 minimum deductible and maximum out-of-pocket amounts for high-deductible health plans (HDHPs). An HSA is a tax-advantaged account that’s paired with an HDHP. An HSA offers several valuable tax benefits:
- You may be able to make pre-tax contributions via payroll deduction through your employer, reducing your current income tax.
- If you make contributions on your own using after-tax dollars, they’re deductible from your federal income tax (and perhaps from your state income tax) whether you itemize or not.
- Contributions to your HSA, and any interest or earnings, grow tax deferred.
- Contributions and any earnings you withdraw will be tax-free if used to pay qualified medical expenses.
Here are the key tax numbers for 2021 and 2022.
Health Savings Accounts
Annual contribution limit
- Self-only coverage
2021 – $3,600
2022 – $3,650 - Family coverage
2021 – $7,200
2022 – $7,300
High-deductible health plan: self-only coverage
- Annual deductible: minimum
2021 – $1,400
2022 – $1,400 - Annual out-of-pocket expenses required to be paid (other than for premiums) can’t exceed
2021 – $7,000
2022 – $7,050
High-deductible health plan: family coverage
- Annual deductible: minimum
2021 – $2,800
2022 – $2,800 - Annual out-of-pocket expenses required to be paid (other than for premiums) can’t exceed
2021 – $14,000
2022 – $14,100
Catch-up contributions
- Annual catch-up contribution limit for individuals age 55 or older
2021 – $1,000
2022 – $1,000
Note: The IRS has released the 2022 key tax numbers for health savings accounts (HSAs) and high-deductible health plans (HDHPs).
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