HSA contributions and limits
HDHP & HSA contribution info
Because an HSA is a bank account, anyone can contribute to it, including you, your employees and your employees’ family. No matter who puts money in, there’s a limit to what can be contributed each year.
High-deductible health plan limits
To have an HSA, you have to have a high-deductible health plan (HDHP). HDHPs set limits for how much members pay for health care services before the health insurance starts paying, and their maximum out-of-pocket amount.
| 2023 | 2024 | Change | |
|---|---|---|---|
| HSA contribution limit (employer + employee) |
Individual: $3,850 Family: $7,750 |
Individual: $4,150 Family: $8,300 |
Individual: +$300 Family: +$550 |
| HDHP minimum deductibles |
Individual: $1,500 Family: $3,000 but not less than $3,000 per person |
Individual: $1,600 Family: $3,200 but not less than $3,200 per person |
Individual: +100 Family: +200 |
| HDHP maximum out-of-pocket amounts (deductibles, copayments and other amounts, but not premiums) |
Individual: $7,500 Family: $15,000 but no more than $9,100 a person |
Individual: $8,050 Family: $16,100 but no more than $9,450 per person |
Individual: +$550 Family: +$1,050 |
| HHS annual out-of-pocket limit |
Individual: $9,100 Family: $18,200 but no more than $9,100 per person |
Individual: $9,450 Family: $18,900 but no more than $9,450 per person |
Individual: +$350 Family: +$700 |
| HSA catch-up contributions (age 55 or older)1 |
$1,000 | $1,000 | No change2 |
1Catch-up contributions can be made any time during the year in which the HSA participant turns 55.
2Unlike other limits, the HSA catch-up contribution amount is not indexed; any increase would require legislative change.
Tax information and implications
There are different tax implications for the self-employed, partnerships or S-Corps. If you have questions about HSAs and tax implications, contact your accountant or refer to IRS Notice 2005-8.
Using Form 8889
Make sure your employees file Form 8889 each year they have an HSA. This form tells the IRS about all contributions and distributions made during the year and allows the account holder to list any after-tax contributions so they receive an "above-the-line" deduction.
We wrote the book on HSAs
We offer members a digital copy of our HSA Guide, complete with a list of terms to know, information on HSA eligibility, tips on how to manage your HSA and advice about how you can best spend your HSA dollars. The guide is a quick and easy reference to help you understand the basics or brush up on your HSA knowledge – at home or on-the-go.