The IRS issued Revenue Procedure 2021-25, inflation-adjusted Health Savings Account (HSA), and excepted benefit health reimbursement arrangements (EBHRAs) contribution amounts for 2022 last week.
HSAs are tax-advantaged accounts available to individuals enrolled in a high-deductible health plan.
An HDHP is a health plan with an annual deductible that is not less than a certain threshold each year for which annual out-of-pocket expenses, including deductibles, co-payments, and other amounts (not including premiums) do not exceed a certain annual limit.
2022 HSA Contribution Limits
The contribution limits are a $50 and $100 increase for self-only and family coverage, respectively, compared to 2021.
Maximum Contribution Amount
Individual - $3,650
Family - $7,300
Catch-up (age 55+) - $1,000 (no change)
2022 HDHP Limits
Annual Maximum Out-of-Pocket Limit for HDHP
Individual - $7,050
Family - $14,100
Annual Minimum Deductible Limit for HDHP
Individual - $1,400 (no change)
Family - $2,800 (no change)
EBHRA Contribution Limit
The maximum amount that may be made newly available for plan years beginning in 2022 is $1,800 (no change).
You can still make health savings account contributions for tax year 2020 through the tax deadline of May 17, 2021, or through the extension date if you filed for one.
If you already filed your 2020 tax return and then add more to your account at the last minute, you can file an amended tax return after the tax deadline to claim new or increased HSA deductions. You typically have three years from the date you filed your original return or two years from the date you paid any tax due to file an amended return.