If you have a flexible spending account (FSA) through your employer, know that the maximum contribution limit is rising by $150 to $3,200 in 2024. This means you can use that much more in pre-tax dollars to pay for unreimbursed medical expenses. The IRS is encouraging FSA participants to plan for next year’s health care costs now by looking forward to possible major expenses (such as surgery), specialist office visits, eye exams, dental care and over-the-counter medications that might not be covered by insurance. Anticipating these costs can help you more accurately determine the amount to defer to your FSA and reduce the risk you’ll lose account funds you can’t carry over to 2025. Contact us with questions. © 2023