On April 29, 2022, the IRS released Revenue Procedure 2022-24, providing the following:

• 2023 inflation-adjusted limits for HSA contributions
• HDHP minimum deductible amount and maximum out-of-pocket costs
• Excepted benefit HRA maximum new-contribution amount

All limits are effective January 1, 2023, and the new amounts for the HDHP deductible and out-of-pocket limits apply to HDHPs with plan years beginning in 2023.

The adjusted amounts are as follows:

2023 HSA contribution limits:

• The 2023 annual HSA contribution limit for individuals with self-only HDHP coverage is $3,850 (up from $3,650 in 2022).
• The 2023 annual HSA contribution limit for individuals with family HDHP coverage is $7,750 (up from $7,300 in 2022).

2023 HDHP minimum deductible amounts and maximum out-of-pocket costs:

• The 2023 HDHP minimum deductible amount for selfonly coverage is $1,500 (up from $1,400 in 2022). The IRS maximum annual out-of-pocket cost limit is $7,500 (up from $7,050 in 2022).
• The 2023 HDHP minimum deductible amount for family coverage is $3,000 (up from $2,800 in 2022). The IRS maximum annual out-of-pocket cost limit is $15,000 (up from $14,100 in 2022).

2023 excepted-benefit HRA maximum new-contribution amount:

• The 2023 excepted-benefit HRA maximum newcontribution amount is $1,950 (up from $1,800 in 2022).

Plan sponsors offering HDHP plans will find the updated figures useful in plan design for the 2023 plan year.

Please contact your Brown & Brown team with any questions.

Regulatory and Legislative Strategy Group