Health Savings Account Limits
Employees participating in the College’s Consumer-Directed Health Plan (CDHP), which is paired with a Health Savings Account (HSA), should note that the maximum annual contribution amounts allowed to Health Savings Accounts are as follows:
- HSA Contribution Limit (combined College contribution and employee contribution)
- Individual: $3,850
- Two-Person/Family: $7,750
- HSA Catch-up Contributions* (age 55 or older): $1,000 (no change in 2023)
*Catch-up contributions can be made any time during the year in which the HSA participant turns 55. Catch-up contributions do not count towards the HSA Contribution limit.
Please note, the maximum election limits above include both the employer and employee contributions combined. Employees can make HSA contribution changes in ADP. Please review instructions on how to do so in the ADP Guide. Please contact email@example.com if you have questions.