Nov 14, 2023
2024 IRS and ACA Limits
As clients are preparing for the upcoming new plan year, this is a reminder of the 2024 limits that have been published by the Internal Revenue Service and CMS.
2024 HSA and HDHP Limits
| 2023 | 2024 | |
|---|---|---|
| HSA Contribution Limit (Employer and Employee) | Individual-$3,850/Family-$7,750 | Individual-$4,150/Family-$8,300 |
| Catch-up Contributions for Ages 55 and up | $1,000 | $1,000 |
| HDHP Minimum Qualifying Deductible | Individual-$1,500/Family-$3,000 | Individual-$1,600/Family-$3,200 |
| HDHP Maximum Out-of-Pocket Limit | Individual-$7,500/Family-$15,000 | Individual-$8,050/Family- $16,100 |
| Excepted Benefits HRA Contribution Limit | $1,950 | $2,100 |
More information can be found in the IRS announcement.
2024 ACA Out-of-Pocket Limit
| 2023 | 2024 | |
|---|---|---|
| ACA Out-of-Pocket Limit | Individual-$9,100/Family-$18,200 | Individual-$9,450/Family-$18,900 |
More information can be found in the CMS announcement.
2024 ACA Affordability Percentage
| 2023 | 2024 | |
|---|---|---|
| Affordability Percentage | 9.12% | 8.39% |
More information can be found in the IRS announcement.
2024 Health FSA and Parking and Transportation Limits
| 2023 | 2024 | |
|---|---|---|
| Health FSA | $3,050 | $3,200 |
| Health FSA Rollover | $610 | $640 |
| Parking | $300/month | $315/month |
| Qualified Transportation | $300/month | $315/month |
More information can be found in the IRS announcement.
QSEHRA Limit
| 2023 | 2024 | |
|---|---|---|
| Self-only Coverage | $5,850 | $6,150 |
| Family Coverage | $$11,800 | $12,450 |
More information can be found in the IRS announcement.
While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it. This publication is distributed on the understanding that the publisher is not engaged in rendering legal, accounting, or other professional advice or services. Readers should always seek professional advice before entering into any commitments.
