IRS Releases 2024 Qualified Benefit Plan Limits

November 9, 2023

The IRS has announced the following new contribution limits for 2024: 
 
Flexible Spending Accounts

Health Flexible Spending Account - $3,200 (increase of $150) 

Flexible Spending Account Carryover Maximum - $640 (if applicable; increase of $30) 

Dependent Care Account - $5,000 (no change) 

Adoption Assistance - $16,810 (increase of $860) 

Commuter Benefit Accounts 

Parking Benefit - $315 (increase of $15) 

Transit Benefit - $315 (increase of $15) 

Additional details are included in IRS Revenue Procedure 2023-34.

Find these and historical qualified benefit plan limits in this handy reference guide.