IRS Announces 2024 Health And Welfare Limits

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Groom Law Group

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On November 9, 2023, the IRS issued Rev. Proc. 2023-34, which announces the 2024 indexed limits for certain health and welfare benefits.
United States Employment and HR

On November 9, 2023, the IRS issued Rev. Proc. 2023-34, which announces the 2024 indexed limits for certain health and welfare benefits. This is in addition to the limits that the IRS announced on May 16, 2023 in Rev. Proc. 2023-23. Please see our November 2, 2023 alert for the key 2024 IRS limits applicable to retirement plans.

Health and Welfare Limit Changes (PDF version here)

2023 2024
HSA contributions $3,850 for self-only coverage
$7,750 for family coverage
$4,150 for self-only coverage
$8,300 for family coverage
HSA-compatible HDHP deductible $1,500 for self-only coverage
$3,000 for family coverage
$1,600 for self-only coverage
$3,200 for family coverage
HSA-compatible HDHP out-of-pocket maximum $7,500 for self-only coverage
$15,000 for family coverage
$8,050 for self-only coverage
$16,100 for family coverage
Health FSA salary reductions $3,050 $3,200
Health FSA carryover $610 $640
Monthly qualified transportation fringe benefits $300 $315
Monthly qualified parking $300 $315
Qualified adoption expenses from a qualified adoption assistance program $15,950 $16,810
Employer contributions to an excepted benefit HRA $1,950 $2,100


For a PDF of this table, click here.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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