The IRS announced under Revenue Procedure 2023-23 cost-of-living adjustments to dollar limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (HRAs) for 2024.
All of the dollar limits currently in effect for 2023 will increase for 2024, with the exception of the HSA catch-up contribution limit for individuals ages 55 and older. The catch-up contribution will not change as it is not subject to cost-of-living adjustments.
The table listed below compares the dollar limits for HSAs, HDHPs, and excepted benefit HRAs for 2023 and then the increase for plan years beginning during 2024, and maximum HSA contributions that can be made during 2024, regardless of when the health plan renews.
Employers should update payroll and benefit administration systems for the 2024 cost-of-living adjustments and incorporate the new limits in participant communications, such as open enrollment and new hire materials, benefit guides, plan documents, and summary plan descriptions.
Plan Limit |
2023 |
2024 |
HDHP OOP Max: |
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HDHP Minimum Deductible: |
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HSA Contribution Limit: |
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Excepted Benefit HRA: |
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COMMENTS