IRS raises limit on health savings account contributions

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The IRS raised the annual limit people with high-deductible health plans can contribute to their health savings accounts.

For 2022, a single person with a high-deductible health plan can put $3,650 into their HSA, and an individual person with family coverage can put $7,300 into their HSA. Those limitations are up $50 and $100, respectively, for next year, according to the Society for Human Resource Management.

The increases are effective beginning in 2022.

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