The Internal Revenue Service (IRS) published the 2024 annual contribution limits for Health Savings Accounts (HSAs) on May 16. They also announced high deductible health plan (HDHP) minimum deductibles and out-of-pocket maximums for next year.
2024 HSA Contribution Limits
For 2024, HSA owners will see a significant increase in the amount they can contribute to their accounts.
The annual limit for those with self-only coverage will be $4,150, an increase of $300 over 2023. For those with family coverage, the 2024 annual limit will be $8,050, an increase of $550.
2024 Minimum Deductibles
To be HSA-qualified in 2023, an HDHP must have a minimum annual deductible of $1,600 for self-only coverage and $3,200 for family coverage.
2024 Out-of-Pocket Limits
Annual out-of-pocket limits are increasing next year. In 2024, the limits are capped at $8,050 for self-only plans and $16,100 for family plans.
2024 HSA Contribution Limits, HDHP Minimum Deductibles, Out-of-Pocket Limits
|HDHP Minimum Deductibles||Out-of-Pocket Limits|
|2024 Self-Only |
|$4,150 (+ $300)||$1,600|
|$8,050 (+ $550)|
|2024 Family Coverage||$8,300 (+ $550)||$3,200 |
|$16,100 (+ $1,100)|
|2023 Self-Only Coverage||$3,850||$1,500||$7,500|
|2023 Family Coverage||$7,750||$3,000||$15,000|
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