The Health Savings Account (HSA)/High Deductible Health Plan (HDHP) limits for the calendar year 2023 are:
Annual Contribution Limit
- Self-Only Coverage: $3,850
- Family Coverage: $7,750
HDHP-Minimum Deductible
- Self-Only Coverage: $1,500
- Family Coverage: $3,000
HDHP-Maximum Annual Out-of-Pocket Expenses (including deductibles, co-payments and other amounts, but not including premiums)
- Single Coverage: $7,500
- Family Coverage: $15,100
For plan years beginning in 2023, the maximum amount that may be made newly available for the plan year for an excepted benefit HRA (EBHRA) is $1,950.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.
