For 2022, the annual contribution limit for self-only coverage increases from $3,600 to $3,650. If you have family coverage, the limit jumps from $7,200 to $7,300 next year. If you’re 55 or older at the end of 2022, you can put in an extra $1,000 in “catch up” contributions (that’s the same amount allowed in 2021).
HSA Contributions 2021
2021 HSA contribution limits have been announced. The maximum out-of-pocket has been capped at $7,000. An individual with family coverage under a qualifying high-deductible health plan (deductible not less than $2,800) can contribute up to $7,200 — up $100 from 2020 — for the year.
IR-2021-66, March 26, 2021
WASHINGTON — The Internal Revenue Service issued Announcement 2021-7 PDF today clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses.The amounts paid for personal protective equipment are also eligible to be paid or reimbursed under health flexible spending arrangements (health FSAs), Archer medical savings accounts (Archer MSAs), health reimbursement arrangements (HRAs), or health savings accounts (HSAs).For more information on determining what is deductible, see Can I Deduct My Medical and Dental Expenses? and Publication 502, Medical and Dental Expenses.