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IRS Releases 2022 Key Numbers for Health Savings Accounts

by Kelly Gillette
September 09, 2021

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:

  • 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

For more information on HSAs and when to use HSAs during your retirement planning, contact one of our private client tax experts today.

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