For 2024, the contribution limit for Flexible Spending Accounts (FSAs) has been increased to $3,050 per year for individuals. This is an increase from the previous limit of $2,850 in 2023. Employers may also set lower limits if they choose. It’s important to check with your employer for any specific FSA limits they may have in place. Additionally, it’s advisable to stay updated on any changes or announcements regarding FSA contributions as they can vary based on regulations.
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