Mercer projects the 2024 inflation-adjusted amounts for health savings accounts (HSAs), high-deductible health plans (HDHPs) and excepted-benefit health reimbursement arrangements (HRAs) will rise significantly from 2023 levels. These unofficial 2024 amounts are determined using the Internal Revenue Code (IRC)’s cost-of-living adjustment methods, the US Bureau of Labor Statistics (BLS) published Chained Consumer Price Index for all Urban Consumers (C-CPI-U) values through January 2023, and Mercer’s projected C-CPI-U values for February and March 2023.
Revisions to this GRIST reflect BLS’s updated C-CPI-U values for April through December 2022, which exceeded previously published amounts. (C-CPI-U values are updated every quarter until they are finalized up to a year after initial publication.) The updates also reflect the initial January 2023 C-CPI-U value, which reflects significant inflation for the month. The new C-CPI-U values produce higher projections than Mercer’s previous estimates for some limits, as noted below.
The table below shows the projected HSA, HDHP and excepted-benefit HRA amounts for 2024, along with the 2023 and 2022 values for comparison. The HSA catch-up contribution limit is set by statute and hasn’t changed since 2009.
Affordable Care Act (ACA) out-of-pocket maximums are higher than projected amounts. As announced by the Centers for Medicare & Medicaid Services (CMS) in December 2022, the out-of-pocket maximums for nongrandfathered group health plans under the ACA — $9,450 for self-only and $18,900 for other coverages — are higher than the projected 2024 HDHP out-of-pocket maximums.