For 2024, the maximum carryover rule is $640 in carryover funds (20% of the $3,200 maximum fsa contribution). For the most part, you have to spend the money in your fsa by the end of each year.
You must enroll in either the limited purpose fsa or medical fsa for the following year, or have at least $120 left in your fsa balance. However, the irs allows you to keep a certain amount from year to year.
A Carryover Plan Allows The Employee To Carry Over Any Unused Funds From One Year Into The Next Year.
Limited purpose fsa limits will also increase from $3,050 to $3,200 for 2024.
Can You Have A Limited Purpose Fsa With An Hsa?
Carryover limits are set by the irs and are typically no more than 20% of the maximum contribution.
Images References :
March 1, 2021 | Stephen Miller, Cebs.
A carryover plan allows the employee to carry over any unused funds from one year into the next year.
The Limited Purpose Fsa Is.
Dcfsa saw no change to limits, which are set by statue and not linked to.
