2024 HSA, HDHP and excepted-benefit HRA figures set
Inflation-adjusted amounts for HSAs, HDHPs and excepted-benefit HRAs arrangements will go up in 2024.
May 16, 2023
IRS has announced the 2024 inflation-adjusted amounts for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted-benefit health reimbursement arrangements (HRAs). In 2024, tax-deductible/tax-free HSA contribution limits, HDHP in-network out-of-pocket maximums and HDHP minimum annual deductibles will rise significantly from 2023 levels for both self-only and family coverage levels. The HSA catch-up contribution limit is set by statute and hasn’t changed since 2009. The 2024 maximum annual employer contribution for an excepted-benefit HRA will increase to $2,100. The table below shows the HSA, HDHP and excepted-benefit HRA limits for 2022‒2024.
Affordable Care Act (ACA) out-of-pocket maximums are higher than projected amounts. As announced by the Centers for Medicare & Medicaid Services (CMS) in December 2022, the out-of-pocket maximums for nongrandfathered group health plans under the ACA — $9,450 for self-only and $18,900 for other coverages — are higher than the 2024 HDHP out-of-pocket maximums.
Related resources
Non-Mercer resources
- Rev. Proc. 2023-23 (IRS, May 16, 2023)
- FFCRA, CARES Act and HIPAA implementation FAQs, Part 58 (DOL, HHS and Treasury, March 29, 2023)
- Premium adjustment percentage, maximum annual limitation on cost sharing, reduced maximum annual limitation on cost sharing and required contribution percentage for the 2024 benefit year (CMS, Dec. 12, 2022)
Mercer Law & Policy resources
- Mercer projects 2024 HSA, HDHP and excepted-benefit HRA figures (Feb. 15, 2023)
- Summary of 2023 benefit-related cost-of-living adjustments (Jan. 25, 2023)
- 2023 quick benefit facts (Jan. 20, 2023)
- Two-year renewal of predeductible HDHP telehealth coverage now law (Jan. 11, 2023)
- Final rules ease restrictions on health reimbursement arrangements (June 14, 2019)
Other Mercer resources
- Consumer-directed health plans
- COVID-19 national emergency may end earlier than previously announced (March 31, 2023)
- How to maximize HDHPs and HSAs to save costs, promote health and retain talent (March 17, 2022)
- HSAs: Saving for, and during, an emergency (May 14, 2020)
- Could free COVID-19 services sabotage your HSA? IRS just weighed in (March 12, 2020)
- HSA enrollment rises even as full-replacement strategies decline (Jan. 7, 2020)
- To treat or to prevent? That is (still) the HSA question (Jan. 7, 2020)
- Balancing the risks and rewards of saving through an HSA (Jan. 7, 2020)
- HSA balances: The more you save, the more you spend — but is that bad? (Sept. 5, 2019)
- HSA vs. 401(k): Help your employees win the battle for account funding (Jan. 31, 2019)
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