2024 health FSA, other health and fringe benefit limits now set
Health FSA, QSEHRA and LTC limits
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Health FSA limits (IRC §125(i)) | |||
Health FSA limits (IRC §125(i)) Maximum salary reduction contribution |
$3,200 | $3,050 | $2,850 |
Health FSA limits (IRC §125(i)) Maximum health FSA carryover |
640 | 610 | 570 |
| QSEHRA limit (IRC § 9831(d)) | |||
QSEHRA limit (IRC § 9831(d)) Maximum annual benefit |
|||
QSEHRA limit (IRC § 9831(d)) Self-only coverage |
6,150 | 5,850 | 5,450 |
QSEHRA limit (IRC § 9831(d)) Family coverage |
12,450 | 11,800 | 11,050 |
| Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) | |||
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) Premium limits at age |
|||
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) 40 or younger |
470 | $480 | $450 |
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) 41–50 |
880 | 890 | 850 |
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) 51–60 |
1,760 | 1,790 | 1,690 |
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) 61–70 |
4,710 | 4,770 | 4,510 |
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) Older than 70 |
5,880 | 5,960 | 5,640 |
Qualified LTC policy limits (IRC § 213(d) and 7702B(d)(4)) Per diem limit |
410 | 420 | 390 |
Qualified transportation fringe benefits and adoption assistance programs
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Tax-free qualified transportation fringe benefits (IRC § 132 (f)) | |||
Tax-free qualified transportation fringe benefits (IRC § 132 (f)) Monthly qualified parking, transit passes or commuter highway vehicles |
$315 | $300 | $280 |
| Qualified adoption assistance programs (IRC § 137) | |||
Qualified adoption assistance programs (IRC § 137) Exclusion for child with special needs (regardless of expenses incurred) |
16,810 | 15,950 | 14,890 |
Qualified adoption assistance programs (IRC § 137) Aggregate dollar limit for all taxable years |
16,810 | 15,950 | 14,890 |
Qualified adoption assistance programs (IRC § 137) Phaseout begins at modified AGI of |
252,150 | 239,230 | 223,410 |
Qualified adoption assistance programs (IRC § 137) Phaseout completed at modified AGI of |
292,150 | 279,230 | 263,410 |
Related resources
Non-Mercer resources
- Rev. Proc. 2023-34 (IRS, Nov. 9, 2023)
- IRS provides tax inflation adjustments for tax year 2024 (IRS, Nov. 9, 2023)
- Notice 2020-33 (IRS, May 12, 2020)
Mercer Law & Policy resources
- 2024 quick benefit facts (Nov. 9, 2023)
- 2024 affordability percentage for employer health coverage drops (Aug. 23, 2023)
- 2024 transportation and health FSA limits projected (Aug. 15, 2023)
- 024 HSA, HDHP and excepted-benefit HRA figures set (May 16, 2023)
- Summary of 2023 benefit-related cost-of-living adjustments (Jan. 25, 2023)
- IRS offers relief to cafeteria plans, HDHPs, individual-coverage HRAs (May 28, 2020)
