Rev. Proc. 2023-23: HSA inflation-adjusted amounts for 2024

Health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2024

Health savings accounts (HSAs) and high deductible health plans (HDHPs)

The IRS today released an advance version of Rev. Proc. 2023-23 that provides the inflation-adjusted limits related to health savings accounts (HSAs) and high deductible health plans (HDHPs) for calendar year 2024.

Rev. Proc. 2023-23 [PDF 54 KB] provides the 2024 annual limitation on deductions under section 223(b)(2)(A) and (B) for contributions to HSAs, respectively, for:

  • An individual with self-only coverage under a HDHP—$4,150 (an increase from $3,850 for 2023) 
  • An individual with family coverage under a HDHP—$8,300 (an increase from $7,750 for 2023) 

For calendar year 2024, a “high deductible health plan” or “HDHP” is defined under section 223(c)(2)(A) as a health plan:

  • With an annual deductible that is not less than $1,600 for self-only coverage or $3,200 for family coverage, and
  • For which the sum of the annual deductible plus annual out-of-pocket expenses—such as co-payments or other amounts, but not premiums—does not exceed $8,050 for self-only coverage (an increase from $7,500 for 2023) or $16,100 for family coverage (an increase from $15,000 for 2023).

Read TaxNewsFlash for the HSA and HDHP limits adjusted for inflation for 2023.



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