2024 Inflation Adjusted Amounts for HSAs and HDHPs Released + ACA Out-of-Pocket Limits
On May 16th, 2023, the IRS released the 2024 Health Savings Accounts (HSA) and high deductible health plans (HDHPs) inflation-adjusted amounts.
Annual HSA contribution limitation:
Self-coverage only: $4,150 ($300 increase from 2023)
Family coverage: $8,300 ($550 increase from 2023)
Annual catch-up contribution maximum
$1,000 for HSA-eligible individuals age 55 or older (unchanged from 2023)
Minimal annual HDHP deductible
Self-coverage only: $1,600 ($100 increase from 2023)
Family coverage: $3,200 ($200 increase from 2023)
Maximum annual HDHP out-of-pocket expenses (deductibles, copayments, and other non-premium amounts)
Self-coverage only: $8,050 ($550 increase from 2023)
Family coverage: $16,100 ($1,100 increase from 2023)
This applies to all HDHPs regardless of whether they’re for essential health benefits.
These amounts are different from the Affordable Care Act (ACA) maximum out-of-pocket limits for 2024 (released by the Department of Health and Human Services in December 2021) for non-grandfathered health plans, which are:
Self-coverage only: $9,450 ($350 increase from 2023)
Family coverage: $18,900 ($700 increase from 2023)
Unlike the HDHP out-of-pocket maximums, the ACA out-of-pocket maximums apply to in-network essential health benefits.
Source: Mineral™