Changes to 2023 HSA Contribution Limits

In 2023, there are major increases to the HSA or Health Savings Account contribution limits. An HSA or Health Savings Account is a tax-advantaged investment account that can be withdrawn from for qualified medical expenses tax-free. The funds you deposit into an HSA can be invested much like an IRA into equities, bonds, and other investments. HSAs are oftentimes described as “Medical IRAs” due to their tax advantages and investment options. Please keep in mind that if you use your HSA funds for non-qualified medical expenses, the IRS will impose a 20% withdrawal penalty on top of your applicable income tax.

To be eligible to set up and fund an HSA, you must be enrolled in a High Deductible Health Plan or HDHP plan. You can identify a health insurance plan as HSA compatible simply by seeing if there is “HDHP” in the name of the plan such as Bronze 60 HDHP PPO. While the Bronze 60 HDHP PPO is compatible with an HSA, the Bronze 60 PPO is NOT compatible with an HSA.

2022 2023 Change
HSA Contribution limit
(employer + employee)
Self: $3,650
Family: $7,300
Self: $3,850
Family: $7,750
Self: + $200
Family: + $450
HSA catch up contributions
(age 55 or older)
$1,000 $1,000 No change
HDHP minimum deductibles Self: $1,400
Family: $2,800
Self: $1,500
Family: $2,800
Self: + $100
Family: + $200
HDHP maximum out-of-pocket
(deductibles, co-payments & all except premiums)
Self: $7,050
Family: $14,100
Self: $7,500
Family: $15,000
Self: +$450
Family: +$900

If you have any questions about your eligibility for an HSA and if it is right for you, please contact us at 310-909-6135 or at for us to better assist you. At Solid Health Insurance Services, we strive to help our clients find the right health, dental, vision, life, and long-term care insurance which best fits their budget and medical needs.

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