Earlier this week, the government released Revenue Procedure 2023-23 outlining the 2024 inflation adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs). An HSA is a tax-advantaged way for participants to save for out-of-pocket medical expenses. HDHPs are health plans that are characterized by a high deductible and high maximum out-of-pocket limit with low monthly premiums. HDHPs are typically paired with HSAs so that participants have access to tax-advantaged funds to cover current and/or future out-of-pocket medical expenses. The recently announced 2024 HSA and HDHP limits, effective January 1, 2024, are generally increased from 2023: