{"id":8134,"date":"2023-06-01T08:14:07","date_gmt":"2023-06-01T13:14:07","guid":{"rendered":"https:\/\/www.bbrown.com\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/"},"modified":"2023-06-01T08:14:07","modified_gmt":"2023-06-01T13:14:07","slug":"updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024","status":"publish","type":"insight","link":"https:\/\/bbrown.com\/ca\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/","title":{"rendered":"Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column]\n\t<div class=\"hero hero--wrap    \">\n\n\t\t<div class=\"hero--background-image hero--background-image-blur\">\n\t\t\t<div class=\"hero--overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"hero-background\" style=\"background: url(https:\/\/bbrown.com\/wp-content\/uploads\/2023\/06\/AdobeStock_117463521-2-scaled.jpeg) center center no-repeat; background-size: cover;\"><\/div>\n\t\t\t\t\t<\/div>\n\n\t\t<div class=\"hero--container\">\n\t\t\t<div class=\"container\">\n\t\t\t\t<div class=\"hero--inner width-100\">\n\n\t\t\t\t\t\n  <div class='content-heading  100%  '>\n    <p class='text-white subheading'>Employee Benefits<\/p>\n    <h1 class='text-white    '>\n      Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024\n    <\/h1>\n\t\n  <\/div>\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n\n\t<\/div>\n\n\t\n[\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;]\n  <div class='content-heading  100% content-heading--ruled '>\n    \n    <h1 class='text-brand-dark-blue    h2'>\n      Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024\n    <\/h1>\n\t\n  <\/div>[vc_column_text]On May 16, 2023, the IRS released <a href=\"https:\/\/www.irs.gov\/pub\/irs-drop\/rp-23-23.pdf\" target=\"_blank\" rel=\"noopener\">Revenue Procedure 2023-23<\/a>, providing the following:<\/p>\n<ul>\n<li>2024 inflation-adjusted limits for HSA contributions<\/li>\n<li>\u00a02024 HDHP minimum deductible amount and maximum out-of-pocket costs<\/li>\n<li>2024 excepted benefit HRA maximum contribution amount<\/li>\n<\/ul>\n<p>All limits are effective January 1, 2024, and the new amounts for the HDHP deductible and out-of-pocket limits apply to HDHPs with plan years beginning on or after January 1, 2024.<\/p>\n<h3>The adjusted amounts are as follows:<\/h3>\n<p><strong>2024 HSA Contribution Limits:<\/strong><\/p>\n<ul>\n<li>The 2024 annual HSA contribution limit for individuals with self-only HDHP coverage is $4,150 (up from $3,850 in 2023).<\/li>\n<li>The 2024 annual HSA contribution limit for individuals with family HDHP coverage is $8,300 (up from $7,750 in 2023).<\/li>\n<\/ul>\n<p><strong>2024 HDHP Minimum Deductible Amounts and Maximum Out-of-Pocket Costs:<\/strong><\/p>\n<ul>\n<li>The 2024 HDHP minimum deductible amount for self-only coverage is $1,600 (up from $1,500 in 2023). The 2024 IRS HDHP maximum annual out-of pocket cost limit for self-only coverage is $8,050 (up from $7,500 in 2023).<\/li>\n<li>The 2024 HDHP minimum deductible amount for family coverage is $3,200 (up from $3,000 in 2023). The 2024 IRS maximum annual out-of-pocket cost limit for family coverage is $16,100 (up from $15,000 in 2023).<\/li>\n<\/ul>\n<p><strong>2024 Excepted Benefit HRA Maximum Reimbursement Amount:<\/strong><\/p>\n<ul>\n<li>The 2024 excepted benefit HRA maximum reimbursement amount is $2,100 (up from $1,950 in 2023).<\/li>\n<\/ul>\n<p>Plan sponsors offering HDHPs and HSA plans will find the updated figures useful as they plan for their upcoming 2024 open enrollment season.<\/p>\n<p>Please contact your Brown &amp; Brown team with any questions.[\/vc_column_text]\t<div class='wpb_content_element text-left btn-container'>\n\t\t\t\t\t<a class='btn btn-brand-green  '\n\t\t\t\thref='https:\/\/bbrown.com\/wp-content\/uploads\/2023\/06\/HSA-HDHP-and-Excepted-Benefit-HRA-Limits-for-2024-Brown-Brown.pdf' target='_blank' data-toggle=''>\n\t\t\t\t<span class=\"btn-text-color--default\">Download PDF<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;2348&#8243; alignment=&#8221;center&#8221; style=&#8221;vc_box_circle_2&#8243;][vc_separator border_width=&#8221;2&#8243; el_width=&#8221;60&#8243;][vc_column_text]<\/p>\n<h6 style=\"text-align: center;\">Regulatory and Legislative Strategy Group<\/h6>\n<p>[\/vc_column_text]\t<div class='wpb_content_element text-center btn-container'>\n\t\t\t\t\t<a class='btn btn-brand-dark-blue  '\n\t\t\t\thref='\/us\/contact\/contact-general\/' target='' data-toggle=''>\n\t\t\t\t<span class=\"btn-text-color--default\">Connect Now<\/span>\n\t\t\t<\/a>\n\t\t\t<\/div>\n[\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]On May 16, 2023, the IRS released Revenue Procedure 2023-23, providing the following: 2024 inflation-adjusted limits for HSA contributions \u00a02024 HDHP minimum deductible amount and maximum out-of-pocket [&hellip;]<\/p>\n","protected":false},"author":66,"featured_media":8135,"template":"","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"insight_category":[31,73],"class_list":["post-8134","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-employee-benefits","insight_category-regulatory-and-legislative-strategy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.0 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024 - Brown &amp; Brown<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bbrown.com\/ca\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024\" \/>\n<meta property=\"og:description\" content=\"[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]On May 16, 2023, the IRS released Revenue Procedure 2023-23, providing the following: 2024 inflation-adjusted limits for HSA contributions \u00a02024 HDHP minimum deductible amount and maximum out-of-pocket [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bbrown.com\/ca\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Brown &amp; 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Brown\"},\"image\":{\"@id\":\"https:\\\/\\\/bbrown.com\\\/ca\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024 - Brown &amp; Brown","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bbrown.com\/ca\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/","og_locale":"en_US","og_type":"article","og_title":"Updated HSA, HDHP and Excepted Benefit HRA Limits for 2024","og_description":"[vc_row row_style=&#8221;page-hero&#8221; full_width=&#8221;stretch_row_content&#8221;][vc_column][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]On May 16, 2023, the IRS released Revenue Procedure 2023-23, providing the following: 2024 inflation-adjusted limits for HSA contributions \u00a02024 HDHP minimum deductible amount and maximum out-of-pocket [&hellip;]","og_url":"https:\/\/bbrown.com\/ca\/insight\/updated-hsa-hdhp-and-excepted-benefit-hra-limits-for-2024\/","og_site_name":"Brown &amp; 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