2024 medical FSA contribution limits (including limited and combination FSAs)
| 2023 | 2024 |
|---|---|
| $3,050 per year | $3,200 per year |
2024 medical FSA carryover
| 2023 | 2024 |
|---|---|
| $610 per year | $640 per year |
2024 commuter benefits contribution limits
| 2023 | 2024 |
|---|---|
| $300 per month | $315 per month |
2024 adoption assistance limits
| 2023 | 2024 |
|---|---|
| $15,950 per year | $16,810 per year |
The maximum amount that may be excluded from an employee’s gross income for the adoption of a special needs child through an adoption assistance program is $16,810. That amount is the same as what may be excluded from that employee’s gross income for expenses incurred by an employer for qualified adoption expenses within the program.
The available adoption credit begins to phase out for taxpayers with modified adjusted gross income in excess of $252,150 and is completely phased out for taxpayers with modified adjusted gross income of $292,150 or more.
2024 qualified small employer health reimbursement arrangement (QSEHRA) limits
| QSEHRA | 2023 | 2024 |
|---|---|---|
| Self-only | $5,850 per year | $6,150 per year |
| Family | $11,800 per year | $12,450 per year |
Previously announced
2024 Health Savings Account (HSA) limits
2024 Health Savings Account (HSA) limits
| HSA | 2023 | 2024 |
|---|---|---|
| Self-only | $3,850 per year | $4,150 per year |
| Family | $7,750 per year | $8,300 per year |
| HDHP (self-only coverage) | 2023 | 2024 |
|---|---|---|
| Minimum deductible: | $1,500 | $1,600 |
| Maximum out-of-pocket limit: | $7,050 | $7,500 |
| HDHP (family coverage) | 2023 | 2024 |
|---|---|---|
| Minimum deductible: | $3,000 | $3,200 |
| Maximum out-of-pocket limit: | $15,000 | $16,100 |
To recap:
- The 2024 medical FSA contribution limit will be $3,200 per year, which is a $150 increase from 2023.
- Employers can allow employees to carry over $640 from their medical FSA for taxable years beginning in 2024, which is a $30 increase from 2023.
- The monthly commuter benefits limit in 2024 for mass transit and parking is $315 per month.
- Employer contribution limits for QSEHRAs are $6,150 for self-only and $12,450 for families.
- 2024 HSA contribution limits were previously announced by the IRS. The HSA limit is $4,150 for an individual and $8,300 for family.
