Luz Johnson's Profile Picture

LPL Financial

Luz Johnson
Financial Advisor
8856 Greenback Lane
Suite C
Orangevale, CA 95662
916-860-7035
916-241-3046
luz.johnson@lpl.com
www.luzjohnsonlpl.com View Bio

 Company Logo

May 02, 2023

2023 Key Numbers
 

Protection Planning

Eligible long-term care premium deduction limits:

LTC premium deduction limits20232024
Age 40 or under$480$470
Age 41-50$890$880
Age 51-60$1,790$1,760
Age 61-70$4,770$4,710
Over age 70$5,960$5,880

Per diem limit:

LTC periodic payments20232024
Periodic payments for qualified long-term care insurance/certain life insurance$420$410

Archer Medical Savings Accounts

High deductible health plan--self-only coverage20232024
Annual deductible--minimum$2,650$2,800
Annual deductible--maximum$3,950$4,150
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$5,300$5,550
High deductible health plan--family coverage20232024
Annual deductible--minimum$5,300$5,550
Annual deductible--maximum$7,900$8,350
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$9,650 $10,200

Flexible spending account (FSA) for health care

Health care FSAs20232024
Maximum salary reduction contribution$3,050 $3,200

Health Savings Accounts (HSAs)

Annual contribution limit20232024
Self-only coverage$3,850 $4,150
Family coverage$7,750 $8,300
High deductible health plan--self-only coverage20232024
Annual deductible--minimum$1,500 $1,600
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$7,500 $8,050
High deductible health plan--family coverage20232024
Annual deductible--minimum$3,000 $3,200
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$15,000 $16,100
Catch-up contributions20232024
Annual catch-up contribution limit for individuals age 55 or older$1,000 $1,000
Refer a friend To find out more click here

Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal professional.

LPL Financial Representatives offer access to Trust Services through The Private Trust Company N.A., an affiliate of LPL Financial.



This communication is strictly intended for individuals residing in the state(s) of AZ, CA, CO, FL, ID, ME, MT, NV, OR, TN, TX and WI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2024.