In 2022, participants of health savings accounts (HSA) and flexible spending accounts (FSA) are eligible to increase their contributions per the Internal Revenue Service. Every year, the IRS reviews and makes any necessary changes to the contribution limits for these types of plans. These changes are based on the cost-of-living adjustments from the IRS.
HSA and FSA Contribution Limits
The IRS changes to the contribution limits for 2022 are as follows:
|HSA Individual Plan Limit||$3,600||$3,650||+$50|
|HSA Family Plan Limit||$7,200||$7,300||+$100|
|HSA Catch-Up (over 55)||$1,000||$1,000||no change|
|FSA – Health||$2,750||$2,850||+$100|
|FSA – Dependent Care||$5,000||$5,000||no change|
Knowing these new limits is important for businesses to stay compliant.