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IRS Begins Releasing 2024 Health and Welfare Plan Limits

Although 2024 is still more than half a year away, the IRS has begun to release some of next year’s indexing adjustments and benefit limits for health and welfare plans.

The table below shows the limits that have been released by the IRS thus far. Check back often, as this will be continuously updated as new 2024 limits are provided.

2023 2024
HSA Contribution Limit – Single $3,850 $4,150
HSA Contribution Limit – Family $7,750 $8,300
HSA Contribution Limit – 55+ Catch-Up Contribution $1,000 $1,000
Minimum HDHP Deductible – Single $1,500 $1,600
Minimum HDHP Deductible – Family $3,000 $3,200
Plan Out-of-Pocket Maximum for HSA Eligibility – Single $7,500 $8,050
Plan Out-of-Pocket Maximum for HSA Eligibility – Family $15,000 $16,100
Maximum amount made newly available for excepted benefit HRA $1,950 $2,100

The information we’ve been given thus far is helpful, but there are still many pending updates that will continue to be released as employers plan for 2024. As the year winds down, keep in touch with your OneDigital consultant to learn more about these 2024 limits and how they can impact the benefit plans you offer and participate in.

Want more information on changing requirements and regulations? Check out these need-to-know compliance updates for Q1 2023.