What is the maximum contribution limit for a Health Savings Account (HSA) for an individual in 2023?

The maximum contribution limit for a Health Savings Account (HSA) for an individual in 2023 is indeed $3,850. HSAs are tax-advantaged accounts that allow individuals to save for medical expenses. The contribution limits are set by the IRS and typically adjust annually, taking into account inflation and other factors.

The amount specified is the maximum allowed for individuals who are covered by a high-deductible health plan (HDHP), which is a requirement to qualify for an HSA. This contribution limit can be increased if the individual is 55 or older, allowing for an additional catch-up contribution. Understanding these limits is essential for tax planning and maximizing the benefits of HSAs.

The other amounts listed do not reflect the correct contribution limits for 2023 according to the IRS guidelines. Thus, the chosen amount aligns with the official limit set for HSAs this year.