HSA Contribution Limit:
Self-only coverage $4,150
Family coverage $8,300
Catch-up Contribution Limit: Age 55 or older $1,000
HDHP Minimum Deductible:
Self-only coverage $1,600
Family coverage $3,200
HDHP Maximum Out-of-Pocket Expense Limit:
Self-only coverage $8,050
Family coverage $16,100
Employers that sponsor HDHPs should review their plan's cost-sharing limits, including the minimum deductibles and maximum out-of-pocket expense limits, for the plan year starting in 2024. Ensuring the plan remains compliant with the updated limits is essential.
Additionally, employers that allow employees to make pre-tax HSA contributions should update their plan communications to reflect the increased contribution limits for 2024. This will help employees understand the updated limits and take full advantage of the tax benefits associated with HSAs.
