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IRS Releases Annual Increases to Health FSA and Transportation Fringe Benefit Limits for 2024

Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 20, 2023

On November 9th, the IRS announced additional inflation adjustments for 2024, including to the annual contribution and carryover limits for healthcare flexible spending accounts and the monthly limit for qualified transportation fringe benefits. The new limits are set forth below.

Transportation 59
Transportation Flexible Spending Account Flexible Spending Retirement Plan 59
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How to Calculate Employee Benefits: The Ultimate Handbook

Empuls

OCTOBER 6, 2023

These benefits are more than just healthcare and retirement plans. Employers need to pay contributions to the central or state government employee welfare schemes, insurance, retirement funds, etc. Infosys in India has an excellent employee health benefits program called Health Assessment and Lifestyle Enrichment (HALE).

Employee Benefits 40
Employee Benefits Health and Welfare Retirement Plan 401(k) 40
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