The 2024 health FSA limits increase contribution amounts for employee benefit plans. As health plan sponsors navigate the open enrollment season, it’s important that employees are made aware of the adjusted limits as they update their enrollment information for 2024.
The IRS released 2024 inflation-adjusted amounts for health flexible spending accounts (FSAs). The guidelines include limits on employee salary reduction contributions to health FSAs and maximum carryover amounts. Plan sponsors should communicate the changes to help employees make appropriate selections during the open enrollment period.
Our bulletin provides an overview of the health FSA contribution limit and the 2024 adjusted limits. Download our bulletin to review the changes.
If you have questions on the updated amounts, please reach out to your Plante Moran Group Benefit Advisor.