Health savings accounts have two types of contribution limits: individual (aka self-only) and family. These limits are updated annually by the IRS to adjust for inflation.
HSA-qualified HDHP
Each year, the IRS sets criteria for HSA-qualified high-deductible health plans. The requirements include minimum deductibles and out-of-pocket maximums.
The IRS defines family coverage as any coverage other than self-only coverage. Examples of family coverage include individual and spouse, individual and children, or individual and spouse and children.
Individual contribution limit
HSA is linked to a high-deductible health plan that covers only the individual account holder and meets the criteria set by the IRS for HSA eligibility.
In this scenario, the account holder can only contribute the individual (self-only) contribution limit.
Family contribution limit
HSA is linked to a high-deductible health plan that covers more than just the individual account holder and meets the criteria set by the IRS for HSA eligibility. Typically, it covers the account holder, spouse, and dependents.
In this scenario, the account holder can contribute to the family contribution limit.
HDHP coverage | 2023 tax year | 2024 tax year |
Individual | $3,850 | $4,150 |
Family | $7,750 | $8,300 |
Source: IRS Rev. Proc. 2023-23