Regulatory and legislative
Regulatory and legislative
Maximum Benefit/Contribution Limits by Calendar Year
Published on October 10th, 2023
Each year, the Internal Revenue Service (IRS) sets limits associated with benefit plans and announces any adjustments to the previous year’s amounts. These announcements occur as follows:
- Affordable Care Act (ACA) limits and health savings account (HSA) limits are announced in the spring for the following calendar year.
- Flexible spending account (FSA) limits and other benefit plan limits are typically announced in the fall for the following calendar year.
- The medical mileage rate is typically announced in the final weeks of December.
| Health Savings Accounts (HSAs) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Self-Only Health Plan: HSA Maximum Annual Contribution (Combined Participant & Employer) | $4,150 | $3,850 | $3,650 |
| Family Health Plan: HSA Maximum Annual Contribution (Combined Participant & Employer) | $8,300 | $7,750 | $7,300 |
| HSA Annual Catch-Up Contribution Maximum for Participants (Age 55+) | $1,000 | $1,000 | $1,000 |
| High-Deductible Health Plan (HDHP) Requirements for HSA Contribution Eligbility | 2024 | 2023 | 2022 |
|---|---|---|---|
| Self-Only Health Plan: HDHP Minimum Annual Deductible | $1,600 | $1,500 | $1,400 |
| Self-Only Health Plan: HDHP Maximum Annual Out-of-Pocket | $8,050 | $7,500 | $7,050 |
| Family Health Plan: HDHP Minimum Annual Deductible | $3,200 | $3,000 | $2,800 |
| Family Health Plan: HDHP Maximum Annual Out-of-Pocket | $16,100 | $15,000 | $14,100 |
| Affordable Care Act (ACA) Medical Plan Limits | 2024 | 2023 | 2022 |
|---|---|---|---|
| ACA-Compliant Maximum Annual Out-of-Pocket (Self-Only or Per Individual in Family) | $9,450 | $9,100 | $8,700 |
| ACA-Compliant Maximum Annual Out-of-Pocket (Family) | $18,900 | $18,200 | $17,400 |
| Flexible Spending Accounts (FSAs) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Health Care (Standard or Limited) FSA Annual Maximum Plan Contribution | $3,200 | $3,050 | $2,850 |
| Health Care (Standard or Limited) FSA Rollover Maximum | $640 | $610 | $570 |
| Dependent Care FSA Annual Maximum Contribution (Married Filing Separately) | $2,500 | $2,500 | $2,500 |
| Dependent Care FSA Annual Maximum Contribution (Single, or Married Filing Jointly) | $5,000 | $5,000 | $5,000 |
| Commuter Accounts | 2024 | 2023 | 2022 |
|---|---|---|---|
| Transit Account Monthly Pre-Tax Contribution Limit (Combined Participant & Employer) | $315 | $300 | $280 |
| Parking Account Monthly Pre-Tax Contribution Limit (Combined Participant & Employer) | $315 | $300 | $280 |
