The IRS just released Revenue Procedure 2023-23, which provides the 2024 calendar year inflation adjusted amounts for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs). These limits are usually modified with a minimal increase each year, but because of higher inflation the new dollar amounts represent the largest increase in history.

HSA Contribution Limits

Individuals with self-only HDHP coverage = $4,150
(up from $3,850 in 2023…a $300 increase)

Individuals with family HDHP coverage = $8,300
(up from $7,750 in 2023…a $550 increase)

HDHP Minimum Annual Deductibles

Self-only coverage = $1,600
(up from $1,500 in 2023…a $100 increase)

Family coverage = $3,200
(up from $3,000 in 2023…a $200 increase)

HDHP Out-of-Pocket Maximums
Allowable expenses include deductibles, co-payments and co-insurance, but NOT premiums.

In-network self-only coverage = $8,050
(up from $7,500 in 2023…a $550 increase)

In-network family coverage = $16,100
(up from $15,000 in 2023…a $1,100 increase)

Post-Deductible HRAs
Employers should confirm that the employee front-end deductible responsibility is at least $1,600 for single coverage and $3,200 for family coverage in order to maintain a qualified HDHP and a participant’s HSA eligibility in 2024.