On May 9, 2024, the IRS released the inflation-adjusted limits for health savings accounts (HSA) and high deductible health plans (HDHP). These limits include the maximum HSA contribution limit, the minimum deductible amount for the HDHPs, and the maximum out-of-pocket expense limit for HDHPs.
The adjusted contribution limits for HSAs take effect on Jan. 1, 2025, while the adjusted HDHP cost-sharing limits apply for plan years beginning on or after the same date.
Our latest bulletin includes an overview on the increased contribution limits and breaks down what action steps employers should be taking, as well important dates. Download the full bulletin to read more.
