“Mr. HSA” Finalizes 2023 HSA Projections — Biggest Changes Since Program Began

by Roy Ramthun | originally posted on HSA Consulting

As many of you know, I track the data needed to make inflation adjustments for Health Savings Accounts from one year to the next. I have accurately predicted the annual adjustments by the Internal Revenue Service for the past 16 years.

With the April 12 release of the March inflation figures by the Bureau of Labor Statistics, I am now finalizing my projected HSA amounts for 2023.  You can find my projections at AskMrHSA.com.  Most of the amounts are exactly as I predicted back in February, but some are even higher.

I am projecting that the HSA amounts will see their biggest increases in the history of the program.  This is good news for HSA owners as the contribution limits will rise much more than in prior years.  For HSA-qualified health insurance plans, the minimum deductibles and annual out-of-pocket limits will also increase much faster than in prior years.  This means health plans may need to change some of their plan designs for 2023.

The IRS will make these amounts official in the coming weeks.  However, employers, trustees, custodians, administrators, and insurance carriers can start making the necessary adjustments now.