Compliance Connection

2024 HSA Limits Announced

Submitted by Ginger Huff, Arkansas State Manager, American Fidelity Assurance Co.

The Internal Revenue Service (IRS) announced annual inflation adjustments for High Deductible Health Plans (HDHPs) and Health Savings Accounts (HSAs). These increases are effective for 2024.

Annual Limitation on HSA Deductions

Self-Coverage
$4,150

Family Coverage
$8,300

HDHP — Self-Only Coverage

Deductible not less than
$1,600

Out-of-pocket expenses max
$8,050

HDHP — Family Coverage

Deductible not less than
$3,200

Out-of-pocket expenses max
$16,100

If you have any questions or need help communicating these changes to employees, please contact us.