MESSA ABC 1 deductibles unchanged for 2022

Good news for MESSA ABC members: The minimum deductibles for health plans that qualify for a health savings account are unchanged for 2022, the IRS recently announced.

In-network deductibles for MESSA ABC Plan 1 in 2022 will remain at $1,400 for individuals and $2,800 for families.

More good news: The IRS raised the maximum amount individuals can contribute to an HSA in a calendar year.

For the 2022 calendar year, a person with individual coverage may contribute up to $3,650 into their HSA, while a person with family coverage will be able to contribute up to $7,300. Those who are 55 and older can contribute an additional $1,000 a year to their own HSA as a catch-up contribution.

Contributing to an HSA has a triple tax benefit, with no taxes being paid on contributions, earnings or payments. HSA funds can be used to pay for qualified medical and prescription expenses, including vision and dental expenses.

An HSA is also a terrific way to save for health care expenses into retirement. You own the account forever, with any unspent funds carrying over from year to year and growing tax-free. This makes it a great way to pay for health expenses in retirement.