Benefits Limits for 2024

Each year, the IRS sets new limits for employee benefits plans, flex plans, and retirement plans. Please see below for Lake Effect’s ready reference chart setting forth the Benefits Limits for the 2024 tax year.





Flexible Spending Accounts (FSAs)


Healthcare FSA max election (per year) (incl. LTD FSA)



Healthcare FSA max rollover



Dependent Care FSA max election (per year) (Single or Married Filing Jointly)



Dependent Care FSA max election (per year) (Married Filing Separately)




Transportation Benefits


Parking Account



Transit Account




High Deductible Health Plan Requirements to Contribute to an HSA


HDHP min annual deductible – Self-only



HDHP min annual deductible – Family



HDHP out-of-pocket max – Self-only



HDHP out-of-pocket max – Family



HSA max contribution limit – Self-only



HSA max contribution limit – Family



HSA catch up contribution limit (age 55+)



HRA max employer contribution limit




ACA Plan Limits


Maximum Out-of-Pocket (Self-only or Individual in a Family)



Maximum Out-of-Pocket (Family)




QSEHRA (Qualified Small Employer Health Reimbursement Arrangement) – Max Employer contribution


To Individual



To Family





Salary Thresholds for Non-discrimination Testing


Highly compensated employees



Key employees




Retirement Plans (401(k), 403(b))


Max employee elective contributions for those 49 and younger



Max employer + employee contributions for those 49 and younger



Max employee catch-up contributions for those 50+



Max employee elective contribution plus catch-up for those 50+



Max employer + employee contributions for those 50+



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