2FA for P&A Participants
COBRA, Participant, Reimbursement Accounts
On May 16, 2023, the IRS released the inflation-adjusted amounts for Health Savings Accounts for 2024. Among the changes are increases to the minimum High Deductible Health Plan (HDHP) amounts for single coverage ($1,600) and family coverage ($3,200).
Below is a table with the updated HSA limits for 2024, effective January 1, 2024.
Health Savings Account
|HSA Contribution Limit – Individual Coverage||$3,850||$4,150|
|HSA Contribution Limit – Family Coverage||$7,750||$8,300|
|HDHP Minimum Deductible – Individual Coverage||$1,500||$1,600|
|HDHP Minimum Deductible – Family Coverage||$3,000||$3,200|
|HDHP Maximum Out-of-Pocket – Individual Coverage||$7,500||$8,050|
|HDHP Maximum Out-of-Pocket – Family Coverage||$15,000||$16,100|
To check your account balance or manage your HSA, log into your account.
Pro Tip: Health Savings Accounts are triple-tax advantaged accounts that can save you significantly on healthcare costs. See how you can benefit from an HSA.