Each year the IRS announces updates to contribution limits for Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), and other tax-advantaged accounts. Here’s a look at what’s changing:
2024
2023
Health FSA: Max Contribution Limit
$3,200
$3,050
Health FSA: Rollover Max
$640
$610
DCFSA: Max Contribution Limit
$2500/$5000
$2,500 / $5,000
HSA:Max Contribution Limit
$4,150Self-Only $8,300Family
$3,850Self-Only $7,750Family
HSA:Catch-Up Contribution Limit
$1000
$1000
HSA: HDHP Out-of-Pocket Max
$8,050Self-Only $16,100Family
$7,500Self-Only $15,000Family
HSA: HDHP Minimum Annual Deductible
$1,600Self-Only $3,200Family
$1,500Self-Only $3,000Family
Commuter Reimbursement: Parking
$315/month
$300/month
Commuter Reimbursement: Transit
$315/month
$300/month
QSEHRA
$6,150 Single $12,450 Family
$5,850Single $11,800Family
EBHRA
$2,100
$1,950
Educational Assistance – Max Income Exclusion
$5,250
$5,250
Medical Mileage Rate
$.21
$.22
Highly Compensated Employee Dollar Threshold
$155,000
$150,000
Key Employee Dollar Threshold
$220,000
$215,000
Health Savings Account (HSA) contribution increases:
Significant contribution increases will allow employees to save more with their HSAs next year. The increases will take effect in January 2024 and are outlined in more detail in this IRS announcement article. For HSA details and answers to FAQs, visit our ultimate guide.