Annually, the IRS is required to publish updated Health Savings Account (HSAs) and High Deductible Health Plans (HDHPs) limits by June 1 each year. On May 10, 2021, the Internal Revenue Service (IRS) released the inflation-adjusted limits for HSAs and HDHPs effective January 1, 2022. The limits include: the maximum HSA contribution limit, required minimum deductible amount, and maximum out-of-pocket expense limit for HDHPs.
As employers begin to plan for their 2022 plan year, the new limits should be reviewed and updated to ensure they align with the newly announced limits.
Contact your Cowden representative for more information on this or other compliance issues.