2022 Health Savings Account Limits

Any great relationship starts with a conversation, so let’s start there.

HSA Contribution Limits and Minimum Deductibles Announced for 2021 & 2022

The Internal Revenue Service (IRS) has announced the 2022 inflation-adjusted amounts for Health Savings Accounts (HSAs) as determined under the Internal Revenue Code. So as you plan your budget, keep in mind the power of Health Savings Accounts, especially if you’re a health, young, individual, who statistically spends significantly less on health care. An HSA vehicle could be a solid place to build up a stash of money, rather than paying out expensive premiums.

Annual Contribution Limitation

2022 2021
Self-Only Contribution Limit $3,650 $3,600
Family Contribution Limit $7,300 $7,200

Age 55 Catch Up Contribution

As in 401k and IRA contributions, you are allowed to contribute extra if you are above a certain age. If you are age 55 or older by the end of the year, you can contribute an additional $1,000 to your HSA. If you are married, and both of you are age 55, each of you can contribute an additional $1,000.

HDHP Qualification

You can only contribute to an HSA if you have a High Deductible Health Plan (HDHP). You can use the money already in the HSA for qualified medical expenses regardless of what insurance you have.

The IRS also defines what qualifies as an HDHP.