The IRS has increased the Flexible Spending Account (FSA) contribution limits for the Health Care Flexible Spending Account (HCFSA) and the Limited Expense Health Care FSA (LEX HCFSA). For 2024, participants may contribute up to an annual maximum of $3,200 for a HCFSA or LEX HCFSA. The Dependent Care FSA (DCFSA) maximum annual contribution limit did not change for 2024. It remains at $5,000 per household or $2,500 if married, filing separately.
The minimum annual election for each FSA remains unchanged at $100.
You may enroll in an FSA for 2024 during the current Benefits Open Season which runs through December 11, 2023, midnight ET. For FSA information on the Open Season, view the FSA Open Season announcement. If you want an FSA in 2024, you must enroll for 2024 during the Open Season. Your 2023 enrollment will not automatically continue into next year.
To enroll or make a change to your contribution amount for 2024, or if you have questions, contact FSAFEDS by calling 877-372-3337 or by going to www.FSAFEDS.com.