Every year, the IRS adjusts dollar limits for health and welfare plan contributions & amounts based on the cost-of-living. As with 2023, 2024’s increases are significant, as noted below. However, changes to Flexible Spending Account limits for 2024 have not yet been announced, as of 11/1/2023.
As a reminder, these are the maximum/minimum limits set by the Affordable Care Act; a health plan has full discretion to set its own limits so long as it’s within the bounds of these limitations.
High Deductible Health Plan (HDHP) Limits
Maximum Out-of-Pocket for Individual Coverage
Minimum Deductible to qualify as HDHP (Individual)
Maximum Out-of-Pocket for Family Coverage
Minimum Deductible to qualify as HDHP (Family)
Health Savings Account (HSA) Limits
Maximum Annual Contribution for Individual Coverage