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Flexible Spending Account Contribution Limit Climbs

InterWest Insurance Services

Earlier in 2023, the IRS also announced the maximum contribution limits to health savings accounts, which are similar to FSAs, but they must be attached to a high-deductible health plan. The annual limits on HSA contributions in 2024 are $3,850 for individuals and $8,300 for families, both up more than 7% from 2023’s limits.

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New Transparency Requirements for Health Plans

AssuredPartners

The rule does not apply to Medicare, Medicaid, grandfathered health plans, standalone vision or dental plans, short-term limited duration plans, HRAs, FSAs or HSAs. These rules do not apply to pharmaceutical carve-out plans, as they are aimed at transparency in pricing regarding treatment at health care facilities.

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What employees expect from benefits packages

Business Management Daily

Medical plans with no or low-cost deductibles. Outstanding pharmaceutical and/or hospitalization coverage. Dental insurance and vision insurance. People enrolled in a High Deductible Health Plan (HDHP) can set aside paycheck money on a pre-tax basis to pay for qualified medical expenses. Extensive maternity care.