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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 Limits202320222021
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 Limits20242023Change
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 Limits202320222021
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.)202320222021
Excepted Benefit HRA (EBHRA) Plan Limits202320222021
Maximum Benefit$1,950$1,800$1,800

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