IRS Announces 2024 FSA & Commuter Contributions Limits
November 14, 2023 | FSA
The IRS has announced the 2024 contribution limits for Health FSAs and Commuter benefits. These changes will take place for plan years that begin on or after January 1, 2024. For employers who currently allow the FSA maximum, OCA will automatically be increasing the new FSA maximum to reflect the increase.
| Benefit Type | 2024 | 2023 | Change |
| Health FSA Limit* *The limit also applies to limited-purpose FSAs | $3,200 | $3,050 | $150 |
| Health FSA Carryover Amount | $640 | $610 | $30 |
| Dependent Care Account Limit | $5,000 | $5,000 | No Change |
| Monthly Transit Account Limit | $315 | $300 | $15 |
| Monthly Parking Account Limit | $315 | $300 | $15 |