Internal Revenue Service (IRS) has announced the new inflation-adjusted rates for the calendar year 2022.
- For Health Savings Accounts (HSAs), the annual contribution amount in 2022 for an individual with self-only coverage under a high deductible health plan will be $3,650 and for an individual with family coverage, $7,300.
- A high deductible health plan is a health plan with an annual deductible that is not less than $1,400 for self-only coverage or $2,800 for family coverage.
- The annual out-of-pocket expenses which will include deductibles, co-payments, co-insurance, and other amounts, will not exceed $7,050 for individual coverage or $14,100 for family coverage.
- For the Excepted Benefit HRA, the maximum amount that can be made available in 2022 will again be $1,800.
These new rates will take effect for the calendar year 2022. Please reach out to your Total Benefit Solutions, Inc health insurance specialists at (215)355-2121 if you have any questions or concerns about this notice.