The IRS recently reminded taxpayers (IR-2023-234) that the FSA contribution limit for 2024 is $3,200, a $150 increase from the 2023 limit ($3,050). Eligible employees of companies that offer a health FSA can take advantage of the $150 increase, but self-employed individuals remain ineligible.
The employee and employee’s spouse may jointly contribute up to $6,400 for their household because the spouse can also contribute up to $3,200 through their employer plan.
For FSAs that permit the carryover of unused amounts, the maximum 2024 carryover amount to 2025 is $640. For unused amounts in 2023, the maximum amount that can be carried over to 2024 is $610.
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