In Revenue Procedure 2023-23, the IRS released the calendar year 2024 inflation-adjusted dollar amounts for health savings accounts (HSAs) and high-deductible health plans (HDHPs), along with the maximum annual amount that may be made newly available for excepted benefit health reimbursement arrangements (EB-HRAs) for plan years beginning in 2024. The amounts are updated annually to reflect cost-of-living adjustments.
Employers should consider these amounts when planning for 2024, as the changes will likely affect benefit plan administration and communication materials.
| 2023 | 2024 | Change | |
|---|---|---|---|
| Self-only coverage | |||
| Maximum annual HSA contribution | $3,850 | $4,150 | +$300 |
| Minimum annual deductible for HDHP | $1,500 | $1,600 | +$100 |
| Maximum annual out-of-pocket expense limit for HDHP | $7,500 | $8,050 | +$550 |
| Family coverage | |||
| Maximum annual HSA contribution | $7,750 | $8,300 | +$550 |
| Minimum annual deductible for HDHP | $3,000 | $3,200 | +$200 |
| Maximum annual out-of-pocket expense limit for HDHP | $15,000 | $16,100 | +$1,100 |
The 2024 HSA catch-up contribution amount for participants attaining age 55 by December 31, 2024, remains at $1,000. This amount is fixed by statute and is the same catch-up contribution amount that applied in 2023.
The maximum amount that employers may contribute to EB-HRAs for plans years beginning in 2024 is $2,100, up from $1,950 in 2023.
