On November 9, 2023, the Internal Revenue Service issued Revenue Procedure 2023-34 that establishes various 2024 tax-related limits that have been adjusted for inflation. The table below identifies updates to the 2024 health and fringe benefit plans addressed in this notice.
| BENEFIT | 2023 | 2024 |
| Maximum Annual Employee Contribution to a Health Flexible Spending Account (Health FSA) | $3,050 | $3,200 |
| Health FSA Carryover Limit | $610 | $640 |
| Adoption Assistance Program | $15,950 | $16,810 |
| Maximum Annual Employer Contribution to a Qualified Small Employer HRA (QSEHRA) | $5,850 (self-only coverage) $11,800 (family coverage) | $6,150 (self-only coverage) $12,450 (family coverage) |
| Maximum Monthly Benefit for Qualified Transit Passes, Van Pool Services, and Qualified Parking | $300 | $315 |