You can choose your Limited Purpose FSA (LPFSA) election amount up to the IRS's or your plan's limit.

2024 Contribution Limits

For 2024, employees with a Limited Purpose FSA (LPFSA) may elect to contribute up to an annual maximum of $3,200.

The maximum carryover amount from the 2024 plan year into the 2025 plan year is $640, which is determined by the IRS.

2023 Contribution Limits

For 2023, employees with a Limited Purpose FSA (LPFSA) were able to elect to contribute up to an annual maximum of $3,050.

The maximum carryover amount from the 2023 plan year into the 2024 plan year is $610, which is determined by the IRS.

Your employer's plan may have an annual limit and/or a carryover amount that is less than the IRS annual limits, so it is best to check your plan to determine your annual limit.

Questions? We are happy to help! Please reach out to Benepass Support for any assistance.