San Francisco Tax Preparation / CPA: 2022 HSA Amounts Released

Filed in CCH NEWS FEED by on July 24, 2021

The IRS has released the 2022 inflation-adjusted amounts for health savings accounts (HSAs) under Code Sec. 223. For calendar year 2022, the annual limitation on deductions under Code Sec. 223(b)(2) for an individual with self-only coverage under a high-deductible plan is $3,650 ($7,300 for an individual with family coverage).

A “high-deductible health plan” is defined in Code Sec. 223(c)(2)(A) as a health plan with an annual deductible that is not less than $1,400 for self-only coverage, $2,800 for family coverage, and annual out-of-pocket expense limits (deductibles, copayments and other amounts, but not premiums) that do not exceed $7,050 for self-only coverage, $14,100 for family coverage.