New 2024 IRS maximums for Medical FSA and Pre-Tax Commuter Transit Accounts
The 2024 IRS maximum for the Medical Flexible Spending Account has increased from $3,050/year to $3,200/year. The 2024 Commuter Transit Pre-Tax Accounts have also increased from $300/month to $315/month.
If you’ve already submitted your 2024 Open Enrollment task in Workday and you’d like to change your contribution amounts based on the recent changes, please follow these directions:
- In Workday, click “Menu” and then “Benefits”.
- Under “Current Cost”, select “Change Open Enrollment”.
- Follow the prompts to make changes and resubmit your Open Enrollment.
If you have any questions regarding Open Enrollment, please contact Blythe Josovitz, Director, Benefits & Compensation at BJosovitz@fairfield.edu or x.2995.
For more information, contact Blythe Josovitz / x.2995 / email@example.com