HSAs for 2023

Health savings accounts (HSAs) combined with high-deductible health plans (HDHPs) are a way for employers to provide or help with employee health coverage in an affordable way. The HSAs and HDHPs numbers are out for 2023: the limit on contributions to HSAs are $3,850 for individual coverage and $7,750 for family coverage (plus another $1,000 for those age 55 and older). HDHPs must have an annual insurance deductible of not less than $1,500 for individual coverage and $3,000 for family coverage. Out-of-pocket costs must be capped at $7,500 for self-only coverage and $15,000 for family coverage. #IdeaoftheDay

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