Inflation is driving up prices for just about everything, so it's no surprise that the IRS's 2023 limits for Health Savings Account contributions and high-deductible health plans have also taken a jump.
The increases "are a significant jump, much higher than previous increases on an annual basis," Kevin Robertson, chief revenue officer at HSA Bank told SHRM, adding that it could spark more employers to start matching employees' HSA contributions, "even if it's a nominal amount, a couple of hundred dollars."
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Revenue Procedure 2022-24, released at the end of April, lays out contribution limits and maximums for HSAs, HDHPs and excepted-benefit HRAs for 2023. Employers and their health plan partners should use these numbers to start planning for next year's open enrollment period, including communications with employees about any changes to their health benefits.
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Emily Payne
Emily Payne is director, content analytics for ALM's Business & Finance Markets and former managing editor for BenefitsPRO. A Wisconsin native, she has spent the past decade writing and editing for various athletic and fitness publications. She holds an English degree and Business certificate from the University of Wisconsin.
