Message Board

The Internal Revenue Service (IRS) has announced 2024 Flexible Spending Account (FSA) contribution limits which increase the amount you may contribute to a Health Care Flexible Spending Account (HCFSA) or a Limited Expense Health Care FSA (LEX HCFSA). For the 2024 benefit period, you can contribute up to a maximum of $3,200 - an increase of $150 from the 2023 benefit period. You may also carry over unused funds up to a maximum of $640 into 2025 - an increase of $30 from the 2023 benefit period as long as you re-enroll.

The minimum annual election for each FSA remains unchanged at $100. In addition, the Dependent Care FSA maximum annual contribution limit did not change, and it remains at $5,000 per household or $2,500 if married, filing separately.