Benefits Limits for 2023
Monday October 30th, 2023
Estimated time to read: 1 minute
With a new year approaching it’s time to ensure your clients are up to date with employee benefit plan limits. For your convenience, here’s a reference list. And for comparing year-to-year changes, limits for 2023 and 2024 are included.
Benefits Limits for 2023
HSA (Health Savings Account)
The HSA contribution limits are $3,850 for self-only coverage and $7,750 for family coverage. Individuals who are 55 or older can contribute an additional $1,000.
HDHP (High Deductible Health Plan)
The HDHP limits are $1,500 for self-only coverage and $3,000 for family coverage. Out-of-pocket maximums cannot exceed $7,500 for self-only coverage and $15,000 for family coverage.
FSA (Flexible Spending Arrangement)
The FSA contribution limit is $3,050 for health FSAs and $5,000 for dependent care FSAs.
DCAP (Dependent Care Assistance Program)
The DCAP limit is $5,000 for single filers and $2,500 per parent for married filers filing separately.
Transit
The transit limit is $300 per month for qualified transportation benefits.
Benefits Limits for 2024
HSA (Health Savings Account)
The HSA contribution limits are $4,150 for self-only coverage and $8,300 for family coverage. Individuals who are 55 or older can contribute an additional $1.000.
HDHP (High Deductible Health Plan)
The HDHP limits are $1,600 for self-only coverage and $3,200 for family coverage. Out-of-pocket maximums cannot exceed $8,050 for self-only coverage and $16,100 for family coverage.
FSA (Flexible Spending Arrangement)
The FSA contribution limit is $3,200 for health FSAs and $5,000 for dependent care FSAs.
DCAP (Dependent Care Assistance Program)
The DCAP limit is $5,000 for single filers and $2,500 per parent for married filers filing separately.
Transit
The transit limit is $300 per month for qualified transportation benefits.
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