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 for Fortune 500 employees:

  • 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 2021 2022
Self-only coverage $3,600 $3,650
Family coverage $7,200 $7,300

 

High-deductible health plan: self-only coverage 2021 2022
Annual deductible: minimum $1,400 $1,400
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed $7,000 $7,050

 

High-deductible health plan: family coverage 2021 2022
Annual deductible: minimum $2,800 $2,800
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed $14,000 $14,100

 

Catch-up contributions 2021 2022
Annual catch-up contribution limit for individuals age 55 or older $1,000 $1,000

 

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