contributions reimbursements

IRS Announces More 2024 Limits

Via┬áRev. Proc. 2023-34, the IRS released its 2024 annual contribution limits for Flexible Spending Accounts (FSAs), Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs), adoption assistance, and qualified transportation plans. 2024 FSAs The annual contribution limit for FSAs increased to $3,200, compared to $3,050 in 2023. For plans that include the Carryover option, that limit increased … More >>

ICHRA and EBHRA; New Rules from IRS

ICHRA and EBHRA: IRS Expands HRA Plan Types for Employers

The Internal Revenue Service (IRS), in coordination with other Federal agencies, published a final ruling which expands Health Reimbursement Arrangement (HRA) plan types for employers. HRAs are employer-funded benefit plans used by employees to cover qualified healthcare expenses. The newly-created Individual Coverage HRA (ICHRA) and Excepted Benefit HRA (EBHRA) became available on January 1, 2020. … More >>