Benefit Plan Limits
HR Benefit Plan Limits and Thresholds
Pursuant to IRS Guidelines
On May 16, 2023, the Internal Revenue Service (IRS) announced the new limits for high-deductible health plans (HDHPs), health savings accounts (HSAs), and excepted benefit health reimbursement arrangements (EBHRAs) in Revenue Procedure 2023-24.
The new limits for both HDHPs and HSAs will go into effect for calendar year 2024 while the HRA limits will go into effect for plan years beginning in 2024.
| Flexible Spending Accounts (FSAs) Benefit Plan Limits | 2023 | 2022 | 2021 |
|---|---|---|---|
| Health FSA Max Election | $3,050 | $2,850 | $2,750 |
| Dependent Care FSA Max Election (married, filing jointly) | $5,000 | $5,000 | $5,000 |
| Rollover Allowance | $610 | $570 | $550 |
| Health Savings Accounts (HSAs) Benefit Plan Limits | 2024 | 2023 | Change |
|---|---|---|---|
| HDHP Min. Annual Deductible – Single | $1,600 | $1,500 | + $100 |
| HDHP Min. Annual Deductible – Family | $3,250 | $3000 | + $250 |
| HDHP Out of Pocket Max – Single | $8,050 | $7,500 | + $550 |
| HDHP Out of Pocket Max – Family | $16,100 | $15,000 | + $1,100 |
| HSA Max Contribution Limit – Single | $4,150 | $3,850 | + $300 |
| HSA Max Contribution Limit – Family | $8,300 | $7,750 | + $550 |
| HSA Catch-Up Contribution Limit | $1,000 | $1,000 |
| Commuter Benefit Plan Limits | 2023 | 2022 | 2021 |
|---|---|---|---|
| Qualified Parking | $300/mo | $280/mo | $270/mo |
| Transit passes and van pool services (employer + employee) | $300/mo | $280/mo | $270/mo |
| QSEHRA Limits (Maximum payments and reimbursementsreimb.) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Self-only | $5,850 | $5,450 | $5,300 |
| Family | $11,800 | $11,050 | $10,700 |
| Excepted Benefit HRA (EBHRA) Plan Limits | 2023 | 2022 | 2021 |
|---|---|---|---|
| Maximum Benefit | $1,950 | $1,800 | $1,800 |
