IRS Announces 2024 FSA, Transit & Parking Limits

The IRS announced increases to the 2024 FSA, Transit and Parking limits in Revenue Procedure 2023-34.

• Healthcare FSA annual contribution limit increased to $3,200 from $3,050
• Transit monthly maximum increased to $315/mo. from $300/mo.
• Parking monthly maximum increased to $315/mo. from $300/mo.

The Dependent Care FSA limit remains unchanged at $5,000 per year (or $2,500 if the account holder is married and files separately).

For questions, please contact your B&P Sales Rep - 888.722.3373.