Earlier this year the Internal Revenue Service (IRS) released Revenue Procedure 2023-23 announcing cost-of-living adjustments (COLAs) applicable to Health Savings Accounts (HSAs) for 2024.
After application of the COLA rules, changes for 2024 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 and maximum out-of-pocket expense limits that are factors in determining whether a health plan is an HSA-eligible HDHP will increase for 2024.
The following tables indicate the HSA regular contribution limits for 2024 and 2023: