Section 1 Short title
This Act may be cited as the “Elevating HSA Limits Act of 2023”.
Elevating HSA Limits Act of 2023
A BILL
To amend the Internal Revenue Code of 1986 to increase the maximum contribution limit for health savings accounts.
Sec. 2 Maximum contribution limit to health savings account increased to amount of deductible and out-of-pocket limitation
Self-Only coverage— Section 223(b)(2)(A) of the Internal Revenue Code of 1986 is amended by striking “$2,250” and inserting “the amount in effect under subsection (c)(2)(A)(ii)(I)”.
Family coverage— Section 223(b)(2)(B) of such Code is amended by striking “$4,500” and inserting “the amount in effect under subsection (c)(2)(A)(ii)(II)”.
Conforming amendments— Section 223(g)(1) of such Code is amended—
by striking “subsections (b)(2) and” both places it appears and inserting “subsection”, and
in subparagraph (B), by striking “determined by” and all that follows through ““calendar year 2003”.” and inserting “determined by substituting “calendar year 2003” for “calendar year 2016” in subparagraph (A)(ii) thereof.”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2023.