The HR Collaborative today received notification from the Society for Human Resources Management that the IRS announced "for the taxable years beginning in 2024, the annual contribution limit for an FSA health plan is increasing to $3,200, up from $3,050 in 2023. If the employer’s plan permits the carryover of unused health FSA amounts, the maximum carryover amount is $640.That’s up $30 over the 2023 carryover amount, which is $610" (SHRM.com, accessed Nov. 9, 2023). 

To get the full details regarding this change, go here: IRS Announces 2024 Health FSA Contribution Cap (shrm.org).