New 2023 Benefit Plan Limits To Know
December 7, 2022

2023  LIMITS TO KNOW

Many benefit plan limits have changed for the new calendar year. Here are some limits to review for 2023:

401(k) LIMITS

  • Pre-tax contributions: $22,500 (up $22,000 from 2022)
  • Catch-up contributions: $7,500 (up $1,000 from 2022)

HEALTH SAVINGS ACCOUNT (HSA) LIMITS

  • Pre-tax contributions:

Single coverage: $3,850 (up $200 from 2022)

Family coverage: $7,750 (up $450 from 2022)

  • Catch-up contributions: $1,000 (no change from 2022)

HIGH DEDUCTIBLE HEALTH PLAN (HDHP) LIMITS

  • HDHP minimum deductibles:

Single coverage: $1,500 (up $100 from 2022)

Family coverage: $3,000 (up $200 from 2022)

  • HDHP maximum out-of-pocket costs:

Single coverage: $7,500 (up $450 from 2022)

Family coverage: $15,000 (up $900 from 2022) Contributions: $3,050 (up $200 from 2022)

FLEXIBLE SPENDING ACCOUNT (FSA) LIMITS

  • Contributions: $3,050 (up $200 from 2022)

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