Health Savings Accounts

Health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers who are enrolled in a high deductible health plan (HDHP).  HSA’s are owned by the individual and the funds contributed are used to pay for qualified medical expenses at any time.

Minimum Annual Deductible to Qualify
Tax Year
Self-Only Coverage
Family Coverage
2023
$1,500
$3,000
2024 and later
$1,600*
$3,200*
Maximum Out-of-Pocket Expenses to Qualify
Tax Year
Self-Only Coverage
Family Coverage
2023
$7,500
$15,000
2024 and later
$8,050*
$16,100*
HSA Contribution Limits
Tax Year
Self -Only Contribution Limit
Family Contribution Limit
Catch-Up Contribution Limit
2023
$3,850
$7,750
$1,000 per individual age 55 or older
2024 and later
$4,150*
$8,300*
$1,000 per individual age 55 or older

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