HSA Contribution Limits Jump for 2024

The IRS announced last week that annual HSA contribution limits for 2024 are increasing and it's one of the biggest jumps in recent years.

JTS Staff
May 22, 2023

Inflation has been a challenge for much of the past year, but it's resultingin at least some good news for the future, particularly for those who havehigh-deductable health plans and Health Savings Accounts. Last week, theIRS announced it was increasing the Annual HSA contribution limits for2024.

For 2024, the annualcontribution limit for health savings accounts, or HSAs, is rising to $4,150from $3,850 for self-only plans, which is roughly an 8% increase. The depositlimit for family plans will also have a sizable increase of about 7% for 2024,jumping to $8,300 from $7,750.

Learn more about this increase here or see the official IRS announcement here.

Want to know more about what anHSA plan is and how it differs from an FSA (Flexible Spending Account),watch our Benefit Minute video: