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2024 Health Savings Account (HSA) and Excepted Benefit HRA Limits

May 18, 2023

The IRS has released the 2024 inflation adjusted amounts for Health Savings Accounts (HSAs). The new amounts are effective for the 2024 calendar year.

Alert

Alert, Benefits Administration

2024 Health Savings Accounts Amounts

The IRS has released the 2024 inflation adjusted amounts for Health Savings Accounts (HSAs). The new amounts are effective for the 2024 calendar year.

2024 HSA Annual Contribution Limit

Coverage Level	Amount
Self-Only Coverage	$4,150
Family Coverage	$8,300
Catch-Up Coverage (Age 55 or older)	$1,000

2024 High Deductible Health Plan (HDHP) Requirements

Coverage Level	Minimum Annual Deductible	Maximum Annual Out-of-Pocket Limit
Individual	$1,600	$8,050
Family	$3,200	$16,100

2024 Excepted Benefit Health Reimbursement Arrangement Maximums

The maximum amount that may be contributed into an Excepted Benefit Health Reimbursement (EBHRA) in 2024 is $2,100.

Source: IRS Revenue Procedure 2023-23

For more information on federal wage and payroll tax laws, check out our Federal Payroll Tax Facts & FAQs page.

Next Steps

The increased limits will be added in the Paylocity software with an effective date starting January 1, 2024. This update will be automatic. No additional action is required.

Thank you for choosing Paylocity as your Payroll Tax and HCM partner. This information is provided as a courtesy, may change and is not intended as legal or tax guidance. Employers with questions or concerns outside the scope of a Payroll Service Provider are encouraged to seek the advice of a qualified CPA, Tax Attorney or Advisor.

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