IRS Announces Employee Benefit Plan Limits for 2024 On Nov. 9, 2023, the 2024 IRS employee benefit plan limits were released. Employers should review the increase in annual dollar limits, as many employee benefits are subject to annual dollar limits that are updated for inflation before the beginning of each calendar year. Note that some benefit limits are not adjusted for inflation, such as the contribution limit for dependent care flexible spending accounts and the catch-up contribution limit for health savings accounts. Employers should confirm that payroll systems are updated for the 2024 limits and that the new limits are communicated to employees. The following benefit limits apply for 2024: HSA Contributions Single coverage: $4,150 (up $300 from 2023) Family coverage: $8,300 (up $550 from 2023) Catch-up contributions: $1,000 (not adjusted for inflation) Health FSA Limits Employee pre-tax contributions: $3,200 (up $150 from 2023) Carryover of unused funds: $640 (up $30 from 202...