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IRS Releases New Benefit Limits for 2024

The long-awaited FSA limits for 2024 were finally released last week in IRS Notice 2023-24, along with 60 other tax provisions. Earlier this year, the IRS already revealed HSA limits for 2024. Employers and employees alike should take note of these changes to ensure compliance with tax regulations. We’ll be recapping a few of the changes in this blog.




Maximum Annual Employee Contribution to a Health FSA



Health FSA Carryover Limit



Maximum Annual Employer Contributions to QSEHRA

$6,150 (self-only coverage)

$12,450 (family coverage)

$5,850 (self-only coverage)

$11,800 (family coverage)

Maximum Monthly Benefit for Qualified Transit Passes, Van Pool Services, and Qualified Parking



Understanding and adhering to these IRS guidelines is crucial for both employers and employees to navigate the complexities of tax regulations. As the 2024 tax year approaches, organizations should review and update their benefit plans to reflect these new limits and avoid any potential pitfalls associated with non-compliance.

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