IRS Announces 2024 Limits on HSAs, HDHPs and Excepted Benefit HRAs

Revenue Procedure 20233 contains the new 2024 inflation-adjusted amounts for taxpayers who participate in high-deductible health plans (HDHPs) and contribute to health savings accounts (HSAs). For 2024, the annual HSA contribution limit for taxpayers with self-only coverage under an HDHP is $4,150 ($8,300 for family coverage). To qualify as an HDHP in 2024, the plan must have an annual deductible of not less than $1,600 for self-only coverage ($3,200 for family coverage), with annual out-of-pocket expenses for self-only coverage that do not exceed $8,050 ($16,100 for family coverage). The maximum amount that can be contributed to an excepted benefit HRA in 2024 is $2,100. Catch-up contribution limits are not subject to inflation adjustments and remain unchanged at $1,000 for 2024. For more information on the contribution limits that apply to HSAs, visit Tax Facts Online. : Q 8828. Note: Q8828, Q8829, Q394, Q397, Q453 are updated.