HSA Contribution Limits for 2022 Are Out

You might not be thinking about next year's health insurance yet, but the IRS just released inflation-adjusted amounts that will apply to health savings accounts (HSAs) in 2022. HSAs are becoming more popular each year in part because of the tax breaks that come with them. For instance, you can deduct contributions to an HSA (even if you don't itemize), employer contributions aren't included in your taxable income, money in your HSA grows tax free, and distributions aren't taxed if you use them to pay qualified medical expenses.