Man and woman looking at paper
ComplianceTax & AccountingMay 20, 2021

Health Savings Accounts: 2022 cost-of-living adjustments

On Monday, May 10, 2021 the Internal Revenue Service (IRS) released Revenue Procedure 2021-25 announcing cost-of-living adjustments (COLAs) applicable to Health Savings Accounts (HSAs) for 2022.

After application of the COLA rules, changes for 2022 include an increase in the contribution limits applicable to individuals who have self only or family high-deductible health plan (HDHP) coverage. Additionally, the minimum deductible amount that is a factor in determining whether a health plan is an HSA eligible HDHP will not increase for 2022, however, the maximum out-of-pocket expense limit that is a factor in determining whether a health plan is an HSA eligible HDHP will increase.

The following tables indicate the HSA regular contribution limits for 2022 and 2021:

HSA Regular Contribution Limits for 2022
HDHP Coverage Standard Limit Catch-Up Contribution Contribution Limit if Age 55 or Older
Self-Only $3,650 $1,000 $4,650
Family $7,300 $8,300
HSA Regular Contribution Limits for 2021
HDHP Coverage Standard Limit Catch-Up Contribution Contribution Limit if Age 55 or Older
Self-Only $3,600 $1,000 $4,600
Family $7,200 $8,200
The following tables indicate the HDHP minimum deductible and maximum out of pocket expense amounts for 2022 and 2021:
HDHP Requirements for 2022
HDHP Coverage Minimum Deductible Out-of-Pocket Expense Limit
Self-Only $1,400 $7,050
Family $2,800 $14,100
HDHP Requirements for 2021
HDHP Coverage Minimum Deductible Out-of-Pocket Expense Limit
Self-Only $1,400 $7,000
Family $2,800 $14,000
For an opportunity to learn more about IRAs and other tax advantaged accounts including Health Savings Accounts and Coverdell Education Savings Accounts, consider the Wolters Kluwer IRA Library or on-demand video training offered on a variety of topics. Go here to learn more about training opportunities available to you, or you can call us at 1-800-552-9408.
Mike Schiller
Manager, Specialized Consulting, Tax Advantaged Accounts
With more than 24 years of experience, Mike has worked closely with hundreds of financial organizations to help them create, implement, and maintain their tax-advantaged accounts program.