IRS releases inflation adjustments

July 2023

The IRS has released 2024 cost-of-living adjustments for health savings accounts (HSA) and high deductible health plans (HDHP). Please review and keep the adjusted amounts handy as you enter the open enrollment period. Read the official IRS release.

Limits for Group Plans and HDHP/HSA Plans20232024
HSA-Compatible HDHP Minimum Required Deductible*
Self-only HDHP coverage$1,500$1,600
Family HDHP coverage$3,000$3,200
HSA-Compatible HDHP Out-of-Pocket Max
Self-only HDHP coverage$7,500$8,050
Family HDHP coverage$15,000$16,100
HSA Contribution Limits
Self-only HDHP coverage$3,850$4,150
Family HDHP coverage$7,750$8,300
Catch-up Contribution Limits
HSA-eligible individuals age 55 or older$1,000$1,000

*Plans in 2024 where the individual deductible is less than $3,200 will be considered an aggregate deductible. This means the entire family deductible must be satisfied before benefits for any covered person under the policy will be paid.