The IRS released Rev. Proc. 2023-23 on May 16, 2023, containing the 2024 high deductible health plan, HSA, and excepted benefits HRA annual limits. The U.S. Department of Health & Human Services previously released the 2024 annual out-of-pocket maximum limits for non-grandfathered medical plans subject to the Affordable Care Act. The plan limits apply to plan years beginning during the 2024 calendar year. The HSA annual contribution limits apply to the 2024 calendar year.
This alert provides both the 2023 and 2024 limits for comparison purposes. The 2024 annual limits for health flexible spending accounts, qualified transportation benefits, and adoption assistance will appear later this year.
