April 29, 2022 – Today the Internal Revenue Service (IRS) issued 2023 inflation adjustments to health savings account (HSA) limits in Rev. Prc. 2022-24. This ruling increased the health savings account (HSA) annual contribution limit for self-only coverage to $3,850 for calendar year 2023, an increase of $200 over the 2022 limit of $3,650. The family contribution limit was also increased to $7,750 for calendar year 2023, an increase of $450 over 2023.
The Section §223 minimum deductible requirement for 2023 also increased to $1,500 for self-only and $3,000 for family coverage. Annual out-of-pocket expenses (including co-payments, deductibles, and other amounts, but excluding premiums) for 2023 may not exceed $7,500 for self-only coverage or $15,000 for family coverage.
HSA Plan Limits Table
|§223 Minimum Deductible|
|HSA Contribution Limit|
Please contact your business development partner or account manager at 800.532.3327 with questions regarding this adjustment.
Flores is a premier administrator of employer-sponsored reimbursement plans including Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), Health Reimbursement Accounts (HRAs) and Commuter Benefit Accounts (CBAs) as well as Life Balanced lifestyle reimbursement accounts and Student Loan Repayment Assistance. In addition to these account-based benefit options, Flores also handles COBRA and other direct bill services to meet the compliance needs of employers. In 2022, Flores launched a full suite of compliance solutions including Premium Only Plan (POP) administration, Wrap SPDs, Form 5500 preparation, and an HR Compliance Center. Based in Charlotte, NC, Flores has emerged as a leader in the CDHP market through a service model founded upon innovative technology, dedicated professionals, and an uncompromising commitment to remarkable service experiences. For more information, visit the Flores website and follow them on LinkedIn.