IRS Benefit Limits
|
IRS Benefit Limits |
Plan Years Beginning 2023 |
Plan Years Beginning 2024 |
|
Health FSA (FSA) & Limited Purpose FSA (LPF) * |
$3,050 / year |
$3,200 / year |
|
Carryover Provision of unused amounts for FSA & LPF ** |
$610 / year |
$640 / year |
|
Dependent Care FSA (DCAP) |
$5,000 / year |
$5,000 / year |
|
Commuter Transit & Parking (pre-tax limit) |
$300 / month |
$315 / month |
|
QSEHRA (Qualified Small Employer HRA) |
$5,850 / individual $11,800 / family |
$6,150 / individual $12,450 / family |
|
Health Savings Account (HSA) |
$3,850 / individual |
$4,150 / individual |
|
HSA - Minimum Deductible |
$1,500 / individual |
$1,600 / individual |
|
HSA - Maximum Out-of-pocket |
$7,500 / individual |
$8,050 / individual |
* For the Health FSA & Limited Purpose FSA (LPF) – If an employer has adopted the IRS Maximum contribution limit as indexed by the IRS, no action needs to be taken. The FSA plan documents allow for this change automatically.
** The Carryover Provision maximum is indexed to 20% of the IRS annual election limit for the Health FSA and Limited Purpose FSA (increases will always be in increments of $10 for the Carryover maximum).