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Kiplinger

Business

Katelyn Washington

What Are the FSA Contribution Limits for 2024?

White piggy bank with stethoscope on a blue background.

Contributing to a medical savings account, such as an FSA (flexible spending account) can lower your taxable income. Your contributions to FSAs and health savings accounts (HSAs) accounts are tax-free.

However, there are limits to how much you can contribute each year. And if you exceed those contribution limits, you could face financial penalties.

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