Inflation-adjusted amounts for health savings accounts (HSAs) are set to increase yet again, according to the Internal Revenue Service (IRS). The IRS announced that for the calendar year 2024, the annual deduction limitation for individuals with self-only coverage under a high-deductible health plan will be $4,150, a $200 increase from the previous year. The deduction limitation for individuals with family coverage will be $8,300, up $550 from 2023. Additionally, the minimum annual deductible and out-of-pocket expenses for high-deductible health plans will also see increases. These adjustments are driven by persistently high inflation levels, reaching levels not seen in decades.

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