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 |