June 2023 Newsletter

For 2024, individuals with a high deductible health plan (HDHP) will have an HSA contribution limit of $4,150. The HSA contribution limit for family coverage will be $8,300. Those amounts are about a 7% increase over what you can contribute this year for 2023. 
 
If you are age 55 or older, the catch-up contribution is currently $1,000. That still applies for 2024. You can see the difference between the 2023 and 2024 HSA maximum contribution amounts in the chart below.
 
Contribution Limits for Health Savings Accounts Under HDHPs
 
(*Individual means self-only coverage.)

 2024

HSA Contribution Limit

Individual: $4,150

Family: $8,300

HSA Catch-Up Contribution: $1,000

HDHP Minimum Deductible

Individual: $1,600

Family

$3,200

HDHP Max Out-of-Pocket

Individual: $8,050

Family: $16,100

2023

HSA Contribution Limit

Individual: $3,850

Family: $7,750

HSA Catch-Up Contribution: $1,000

HDHP Minimum Deductible

Individual: $1,500

Family: $3,000

HDHP Max Out-of-Pocket

Individual: $7,500

Family: $15,000

Change

Individual: +$300

Family: +$550

HSA Catch-Up Contribution: No Change

HDHP Minimum Deductible

Individual +$100

Family: +$200

HDHP Max Out-of-Pocket

Individual: $+550

Family: $+1,100