The last of the employee benefits annual limits have now been released by the IRS. This summary includes recently released limits for Health FSAs, Dependent Care FSAs, Commute, and QSEHRA plans. Following is a recap comparing the 2023 numbers with the finalized 2024 numbers.
HDHP and HSA Limits
|
2023
|
2024
|
|
HDHP Minimum Deductible - Self Only
|
$1,500
|
$1,600
|
|
HDHP Minimum Deductible - Family
|
$3,000
|
$3,200
|
|
HDHP OOP Limit - Self Only
|
$7,500
|
$8,050
|
|
HDHP OOP Limit - Family
|
$15,000
|
$16,100
|
|
HSA Contribution Limit - Self Only
|
$3,850
|
$4,150
|
|
HSA Contribution Limit - Family
|
$7,750
|
$8,300
|
|
HSA Contribution Limit - Catchup (55+)
|
$1,000
|
$1,000
|
|
|
|
ACA Limits
|
2023
|
2024
|
|
Health Plan OOP Limit - Self Only
|
$9,100
|
$9,450
|
|
Health Plan OOP Limit - Family
|
$18,200
|
$18,900
|
|
ACA Affordability Threshold
|
9.12%
|
8.39%
|
| |
|
|
Flexible Spending Accounts (FSA)
|
2023
|
2024
|
|
Health FSA Election Maximum
|
$3,050
|
$3,200
|
|
Health FSA Rollover Maximum
|
$610
|
$640
|
|
Dependent Care Election Maximum (not indexed)
|
$5,000
|
$5,000
|
|
|
|
HRA Limits
|
2023
|
2024
|
|
QSEHRA - Self Only
|
$5,850
|
$6,150
|
|
QSEHRA - Family
|
$11,800
|
$12,450
|
|
EBHRA
|
$1,950
|
$2,100
|
|
|
|
Commute
|
2023
|
2024
|
|
Transit Pass Maximum (Monthly)
|
$300
|
$315
|
|
Parking (Monthly)
|
$300
|
$315
|
|
Bicycle (Monthly)
|
$20 |
$20
|
|
|
|
Retirement Plans
|
2023
|
2024
|
|
Elective Deferral Maximum
|
$22,500
|
$23,000
|
|
Catch-up Maximum (50+)
|
$7,500
|
$7,500
|
|
Total Contribution Limit (<50)
|
$66,000
|
$69,000
|
|
Total Contribution Limit (50+)
|
$73,500
|
$76,500
|
|
401(a) Compensation Limit
|
$330,000
|
$345,000
|
|
|
|
Compensation Thresholds
|
2023
|
2024
|
|
Highly Compensated Employee (HCE)
|
$150,000
|
$155,000
|
|
Key Employee Officer Comp
|
$215,000
|
$220,000
|
|
|
|
| |
|
|
Other Limits
|
2023
|
2024
|
|
Educational Assistance (not indexed)
|
$5,250
|
$5,250
|
|
Adoption Assistance
|
$15,950
|
$16,810
|
|
Social Security Wage Base
|
$160,200
|
$168,600
|
References
IRS Rev. Proc. 2023-23 (Covering HSA, HDHP, and EBHRA limits)
IRS Notice 2023-75 (Covering Retirement plan limits)
IRS Rev. Proc. 2023-xx (Covering FSAs, QSEHRAs, and Commute Plans)
