The IRS released Revenue Procedure 2021-25 on May 10, 2021 announcing the cost-of-living adjustments (COLAs) applicable to health savings accounts (HSAs) for the calendar year 2022. The changes include an increase in the contribution limits applicable to eligible individuals who have self only or family high-deductible health plan (HDHP) coverage. The annual contribution limit for an individual with self-only coverage under a high deductible health plan was raised from $3,600 to $3,650 or $4,650 for those eligible for catch-up contributions. For an individual with family coverage under a high deductible health plan, the annual contribution limit was raised from $7,200 to $7,300 or $8,300 for those eligible for catch-up contributions. The minimum annual deductible remains at $1,400 for self-only coverage and $2,800 for family coverage, while the annual out-of-pocket maximum was raised from $7,000 to $7,050 for self-only coverage and from $14,000 to $14,100 for family coverage.
