IRS Announces 2022 HSA Limits

How will health savings account contribution limits change in 2022? Here's the latest from the IRS.

IRS Announces 2022 HSA Limits

It’s that time of year again! While many are still adjusting to the year 2021, the IRS looked further into the future to share their adjusted Health Savings Account (HSA) limits for the calendar year of 2022.

Paired with high deductible health plans, HSAs are triple-tax-advantaged savings accounts that people can use to save and grow their money tax-free, invest, and spend money on qualified medical items tax-free.  HSAs have been steadily increasing in popularity, with account growth in 2020 at 6%, according to Devenir’s 2020 end of year report. Assets under HSA accounts also grew a staggering 25%, increasing to $82.2 billion in 2020. 

hsa contributions 2021 vs 2022

Because the IRS adjusts the limits of high deductible health plans and health savings accounts each year for inflation, things like what deductible makes an HDHP HSA-eligible and how much we contribute to the HSA tend to change year-to-year. The 2022 limits aren’t wildly different from the increases we usually see, with contribution maximums increasing from $3,600 to $3,650 for those with individual coverage and $7,200 to $7,300 for those on family plans. 

The minimum deductible to be classified as an HSA-eligible HDHP didn’t change, remaining at $1,400 for individual coverage and $2,800 for family plans. Small changes were also made to the classifications of out-of-pocket maximums for individual and family plans. 

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