2023 HSA contribution limits

[walkinwood]

** Please confirm my understanding ****


DW & I are covered by an HSA compliant plan

In 2022, the maximum contribution for an individual was $3650 and for family was 2X that amount $7300.

In 2023, the individual limit is $3850, and the family amount is $7750, which is $50 more than 2x the individual amount.

In addition, each person on the family plan over 55 can add an additional $1000.00

DW & I have separate HSA accounts and are both over 55.

I assume we can each contribute $4850 in our HSA accounts. Or any other combination as long as the total of our contributions is less than or equal to $9750.

 

[cathy63]

** Please confirm my understanding ****


DW & I are covered by an HSA compliant plan

In 2022, the maximum contribution for an individual was $3650 and for family was 2X that amount $7300.

In 2023, the individual limit is $3850, and the family amount is $7750, which is $50 more than 2x the individual amount.

In addition, each person on the family plan over 55 can add an additional $1000.00

DW & I have separate HSA accounts and are both over 55.

I assume we can each contribute $4850 in our HSA accounts. Or any other combination as long as the total of our contributions is less than or equal to $9750.

Not quite. You can divide the $7750 between your two individual HSA accounts any way you wish, but the $1000 catch-up for each of you has to go into your own accounts. So for example, you can't divide the $9750 up as $9000 and $750, but you could divide it as $8750 and $1000.

 

[walkinwood]

Thanks Cathy63. That is my understanding too though I didn't express myself correctly.
Thank you for your response.

 

[SecondCor521]

Not quite. You can divide the $7750 between your two individual HSA accounts any way you wish, but the $1000 catch-up for each of you has to go into your own accounts. So for example, you can't divide the $9750 up as $9000 and $750, but you could divide it as $8750 and $1000.

Would the total MFJ limit still be the family limit if both spouses had self-only coverage? I started to work through Form 8889 Part I to try to figure this out and ran out of spoons.

 

[SevenUp]

Would the total MFJ limit still be the family limit if both spouses had self-only coverage? I started to work through Form 8889 Part I to try to figure this out and ran out of spoons.

No. See Rules for married people: "If either spouse has family HDHP coverage, both spouses are treated as having family HDHP coverage." Thus if neither spouse has family coverage, each uses the single limit.

 

[audreyh1]

Would the total MFJ limit still be the family limit if both spouses had self-only coverage? I started to work through Form 8889 Part I to try to figure this out and ran out of spoons.

We each used the single limit as we each had individual policies. DH is now on Medicare and I continue with the single limit.

We file two forms 8889 one for each of us.