On May 9, the Internal Revenue Service (IRS) released Revenue Procedure 2024-25, listing the 2025 inflation-adjusted amounts applicable to health savings accounts (HSAs), high deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (HRAs). The inflation adjustments take effect, generally, in 2025 or for plan years beginning in 2025.

On September 28, the House Ways & Means Committee approved legislation, HR 5687, that expands health savings account (HSA) rules to include an increase in the out-of-pocket costs associated with the HSA’s accompanying high deductible health plans (HDHPs). Those limits currently are $7,500 for self-only coverage, $15,000 for family coverage, and $1,000 in catch-up contribution authority. Under current law, HSA contribution limits are much lower--$3,850 for self-only HSAs and $7,750 for HSA owners with family coverage.

On May 16, the Internal Revenue Service (IRS) announced the health savings accounts (HSA) contribution limits, as adjusted for inflation, for 2024. Also included in the announcement were inflation adjustments to minimum permissible deductibles under a high deductible health plan (HDHP), and maximum out-of-pocket costs allowable under an HDHP. The 2024 limits are:

Rep. Adrian Smith (R-NE) has introduced bipartisan legislation that would allow use of health savings account (HSA) funds to pay for in-home long-term care. The bill has 11 bipartisan cosponsors.