{"id":5424,"date":"2022-03-16T07:23:00","date_gmt":"2022-03-16T07:23:00","guid":{"rendered":"https:\/\/www.irstaxapp.com\/?p=5424"},"modified":"2022-03-16T07:23:10","modified_gmt":"2022-03-16T07:23:10","slug":"hsa-contribution-limits-2022-calculator","status":"publish","type":"post","link":"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/","title":{"rendered":"HSA contribution limits 2022 Calculator"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><picture><source srcset=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-1024x576.webp 1024w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-300x169.webp 300w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-768x432.webp 768w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-495x279.webp 495w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-150x84.webp 150w,https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" type=\"image\/webp\"><img src=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-1024x576.png\" height=\"576\" width=\"1024\" srcset=\"https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-1024x576.png 1024w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-300x169.png 300w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-768x432.png 768w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-495x279.png 495w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022-150x84.png 150w, https:\/\/www.irstaxapp.com\/wp-content\/uploads\/2022\/03\/HSA-contribution-limit-calculator-2022.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" class=\"wp-image-5430 sp-no-webp\" alt=\"HSA contribution limits 2022\" decoding=\"async\" loading=\"lazy\"  > <\/picture><\/figure>\n\n\n\n<p>The health savings account or HSA contribution limits 2022 calculator is one of the easiest way to find out the total contribution that you can make during the tax year 2022. The calculator requires just yes or no answer and your input for <em>HSA employers contribution<\/em> to find out maximum amount that you can contribute during 2022.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6629db085126b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6629db085126b\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#What_is_HSA\" title=\"What is HSA?\">What is HSA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#HSA_contribution_limits_2022_Calculator\" title=\"HSA contribution limits 2022 Calculator\">HSA contribution limits 2022 Calculator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#What_are_HSA_contribution_limits_2022\" title=\"What are HSA contribution limits 2022 ?\">What are HSA contribution limits 2022 ?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#Who_is_eligible_for_an_HSA\" title=\"Who is eligible for an HSA?\">Who is eligible for an HSA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#How_to_pay_contribution_to_HSA\" title=\"How to pay contribution to HSA?\">How to pay contribution to HSA?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#What_are_HSA_tax_benefits\" title=\"What are HSA tax benefits?\">What are HSA tax benefits?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#Is_there_a_separate_limit_for_HSA_employer_contribution\" title=\"Is there a separate limit for HSA employer contribution?\">Is there a separate limit for HSA employer contribution?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.irstaxapp.com\/hsa-contribution-limits-2022-calculator\/#Why_HDHP_buy_is_a_must_for_HAS\" title=\"Why HDHP buy is a must for HAS?\">Why HDHP buy is a must for HAS?<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_HSA\"><\/span>What is HSA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A health savings account (HSA) is a health focussed investment plan that has added advantage of tax savings as well .The savings in HSA can be used to pay for qualified medical expenses and any unused fund (balance in your account ) are retained for you . Basically , this saving account accumulates fund for future health expense and at the same time grows for your retirement years .Another great thing about HSA remains valid for life.Thus, your investment in HSA will grow years after years and whenever you get medical expense, just use those accumulated balance . <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"HSA_contribution_limits_2022_Calculator\"><\/span>HSA contribution limits 2022 Calculator<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<script async=\"\" src=\"https:\/\/cdn.ampproject.org\/v0.js\"><\/script>\n  <script async=\"\" custom-element=\"amp-iframe\" src=\"https:\/\/cdn.ampproject.org\/v0\/amp-iframe-0.1.js\"><\/script>\n  \n  \n  \n  <amp-iframe width=\"300\" height=\"600\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" src=\"https:\/\/gsheetpress.com\/calculator?id=1647337756815\">\n<amp-img layout=\"fill\" src=\"https:\/\/foo.com\/foo.png\" placeholder=\"\"><\/amp-img>\n<\/amp-iframe>\n\n\n\n<h3 class=\"wp-block-heading\">HSA contribution limits 2022 Calculator &#8211; logic used<\/h3>\n\n\n\n<p>The basic formula and principle used for building the <em>HSA contribution limits 2022<\/em> calculator are:<\/p>\n\n\n\n<ol><li>The HSA contribution limits depends in the type of plants-individual or family .<\/li><li>Whether employer puts in money for employee or not, limit is for employees only.<\/li><li>If employee buys HDHP became active in a tax year (say 2022) not for whole year and do not keep his HDHP through December 31, 2023, his contribution limit will be on prorate basis.<\/li><li>f employee buys HDHP became active in a tax year (say 2022) not for whole year and do keep his HDHP through December 31, 2023, his contribution limit will be for the whole year.<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_HSA_contribution_limits_2022\"><\/span>What are HSA contribution limits 2022 ?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-background\" style=\"background-color:#e9ebed\">The 2022 HSA contribution limits are <strong>$3,650 for Individual<\/strong> plan and <strong>$ 7,300 for family<\/strong>. You can also claim extra savings of $1,000 if the age of the participant is <strong>55 years or more<\/strong> . This is often called as <strong>HSA catch-up contributions<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_eligible_for_an_HSA\"><\/span>Who is eligible for an HSA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Eligibility rule to HSA requires that you have coverage under a <em>high deductible health plan<\/em> (HDHP) and have no other health plans including Medicare . For most people, if you are eligible on 1st December of the tax year and remains so till 31st December , you will be deemed to be eligible for the whole year .<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_pay_contribution_to_HSA\"><\/span>How to pay contribution to HSA?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>If you are an eligible individual, anyone can contribute to your HSA. However, you cannot be enrolled in Medicare or be another person&#8217;s dependent. You can deposit amounts in HSA by any of following three ways :<\/p>\n\n\n\n<ol><li>Deposit HSA through employers as pre-tax payroll contributions,<\/li><li>Deposit by check or bank transfer of the amount to HSA<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_HSA_tax_benefits\"><\/span>What are HSA tax benefits?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There are three exclusive tax benefits are attached to health savings account (HSA) . <\/p>\n\n\n\n<ol><li><strong>When you contribute , it is tax deductible.<\/strong>What it means is that the money on which you would have paid tax , becomes tax free income if you transfer that amount to an HSA. Say , you are on average tax rate of 25% . You saved $2,000 to an HSA . It means you can use that $2,000 for your future expense on health and on that $2,000 you did not pay any tax in the year of earning !<\/li><li><strong>When you get income in form of  interest or out of investment <\/strong>in HSA, your wealth for health purpose grows. The government does not tax on any earning on the HSA as long as it is there or used for medical expense.<\/li><li><strong>Any withdrawal from HSA account<\/strong> for the purpose of eligible medical expense , is also tax free. The value of this can be understood when you compare with a <a href=\"https:\/\/www.irstaxapp.com\/all-about-401k-retirement-plans\/\">401K plan<\/a>. Let us say you do not have a HSA, and uses 401K to fund your medical expense. At that time, this will feel like double whammy-spending money on medical expense by withdrawal from 401K and also paying taxes on withdrawal. If you take an HSA, no tax will be levied on withdrawal for medical expense.<\/li><\/ol>\n\n\n\n<p class=\"has-vivid-cyan-blue-color has-text-color has-medium-font-size\">Tax implication when you fail HSA eligibility <\/p>\n\n\n\n<p class=\"has-background\" style=\"background-color:#f7d8e0\">If you fail eligibility test during the year, you must include the contribution made for that year in your total income for the said tax year.The contribution that is added on failing the eligibility test  will suffer 10% additional tax.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_there_a_separate_limit_for_HSA_employer_contribution\"><\/span>Is there a separate limit for HSA employer contribution?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>There is no separate contribution limit for employers on behalf of employee. The overall limit to contribute depends entirely on employees .In fact, the contribution by employers are, just optional as law does not bind them to contribute .<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_HDHP_buy_is_a_must_for_HAS\"><\/span>Why HDHP buy is a must for HAS?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As you have already read earlier that the accumulated balance from the HSA should be used for medical expenditure , then there is no tax on withdrawal. <strong><em>The law provides that in order to get tax benefits , you must buy a high-deductible health plan (HDHP )<\/em><\/strong> which is basically a\u00a0health insurance plan which charges very low premium in comparison to general health insurance plans, but still offers very high deductibles.<\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-cyan-blue-color\">What does high deductible mean?<\/span> <\/strong>For HDHP, it means the portion of an insurance claim that the insured must pay\u00a0out on his own before the policy coverage is activated. As per the HDHP contract , when your part of insurance  is paid than only insurance company takes responsibility of paying the balance of insurance claim.IRS prescribes minimum deductible for an HDHP at o $1,400 for individual and $2,800 for families. For tax year 2022 , the maximum deductible is fixed at $7,050 for single and $14,100 for family .for 2021 is $7,000 for an individual and $14,00 for a family. These limits increase to $7,050 and $14,100 in 2022.<\/p>\n\n\n\n<p>For knowing more about HSA contribution limits 2022 calculator , read <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/p969.pdf\" target=\"_blank\" rel=\"noopener\">IRS publication<\/a>.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The health savings account or HSA contribution limits 2022 calculator is one of the easiest way to find out the total contribution that you can make during the tax year 2022. The calculator requires just yes or no answer and your input for HSA employers contribution to find out maximum amount that you can contribute [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5430,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/5424"}],"collection":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/comments?post=5424"}],"version-history":[{"count":0,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/posts\/5424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media\/5430"}],"wp:attachment":[{"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/media?parent=5424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/categories?post=5424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irstaxapp.com\/wp-json\/wp\/v2\/tags?post=5424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}