The IRS recently issued Rev. Proc. 2023-23, which sets the 2024 calendar year limits on (i) annual contributions that can be made to a health savings account ("HSA") and (ii) annual deductibles and out-of-pocket maximums under a high deductible health plan ("HDHP"). The 2024 limits are as follows:
- Annual HSA contribution limits: $4,150 for self-only coverage (a $300 increase from 2023) and $8,300 for family coverage (a $550 increase from 2023);
- Minimum HDHP deductibles: $1,600 for self-only coverage (a $100 increase from 2023) and $3,200 for family coverage (a $200 increase from 2023); and
- HDHP out-of-pocket maximum limits: $8,050 for self-only coverage (a $550 increase from 2023) and $16,100 for family coverage (a $1,100 increase from 2023).
Rev. Proc. 2023-23 is available here.