On Friday, April 29th, 2022, the IRS provided the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code and the maximum amount that may be made newly available for excepted benefit health reimbursement arrangements (HRAs) provided under § 54.9831-1(c)(3)(viii) of the Pension Excise Tax Regulations. SECTION 2.
HSA INFLATION-ADJUSTED ITEMS
Annual contribution limitation.
For calendar year 2023, the annual limitation on deductions under § 223(b)(2)(A) for an individual with self-only coverage under a high deductible health plan is $3,850.
For calendar year 2023, the annual limitation on deductions under § 223(b)(2)(B) for an individual with family coverage under a high deductible health plan is $7,750
High deductible health plan.
For calendar year 2023, a “high deductible health 2 plan” is defined under § 223(c)(2)(A) as a health plan with an annual deductible that is not less than $1,500 for self-only coverage or $3,000 for family coverage, and for which the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $7,500 for self-only coverage or $15,000 for family coverage.
HRA INFLATION-ADJUSTED ITEM
For plan years beginning in 2023, the maximum amount that may be made newly available for the plan year for an excepted benefit HRA under § 54.9831-1(c)(3)(viii) is $1,950.
See § 54.9831-1(c)(3)(viii)(B)(1) for further explanation of this calculation.
EFFECTIVE DATE
This revenue procedure is effective for HSAs for calendar year 2023 and for excepted benefit HRAs for plan years beginning in 2023.
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