IRS Benefit Limits

 

IRS Benefit Limits

Plan Years Beginning

2023

Plan Years Beginning

2024

Health FSA (FSA) & Limited Purpose FSA (LPF) *

$3,050 / year

 

Carryover Provision of unused amounts for FSA & LPF **

$610 / year

 

Dependent Care FSA (DCAP) ***

$5,000 / year

$5,000 / year

Commuter Transit & Parking (pre-tax limit)

$300 / month

 

QSEHRA (Qualified Small Employer HRA)

$5,850 / individual $11,800 / family

 

Health Savings Account (HSA) (previously released)

$3,850 / individual
$7,750 / family

$4,150 / individual
$8,300 / family

* 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).