After evaluating the C-CPI-U for the 12 month period ending August 31, 2023, the Health Care FSA annual maximum plan contribution limit and rollover maximum limits are projected to increase for 2024. The monthly transit and parking pre-tax contribution limits are also projected to increase for 2024.

Health Care FSA Limits

• The Health Care (standard or limited) FSA annual maximum plan contribution limit is projected to increase from $3,050 to $3,200 in 2024.
• The Health Care (standard or limited) FSA rollover maximum limit is projected to increase from $610 to $640 in 2024.

Commuter Account Limits

• The transit account monthly pre-tax contribution limit (combined participant and employer) is projected to increase from $300 to $315 in 2024.
• The parking account monthly pre-tax contribution limit (combined participant and employer) is projected to increase from $300 to $315 in 2024.

These are projected limits reported by Mercer and/or Thomson Reuters. These limits are subject to change and are not considered official until the IRS releases a Revenue Procedure on these benefit limits later this year.

Looking Ahead

With open enrollment around the corner for many employers, these projected limits can help employers think about their benefit plan and consider if they want to make any changes for their upcoming plan year. We will notify all brokers and employers when these plan limits are officially announced. Stay tuned for more information!

You can access up-to-date statutory limit information year round at www.ebcflex.com/PlanLimits. Additional information on projected limits can be found here.