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Leonard Golub, CFA, MBA
Fiduciary Advisor
3355 West Alabama Street
Suite 275
Houston, TX 77098
713-874-1444
info@newcapitalmgmt.com
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Leonard Golub's Profile Picture

November 27, 2023

2024 Key Numbers
 

Protection Planning

Eligible long-term care premium deduction limits:

LTC premium deduction limits20232024
Age 40 or under$480$470
Age 41-50$890$880
Age 51-60$1,790$1,760
Age 61-70$4,770$4,710
Over age 70$5,960$5,880

Per diem limit:

LTC periodic payments20232024
Periodic payments for qualified long-term care insurance/certain life insurance$420$410

Archer Medical Savings Accounts

High deductible health plan--self-only coverage20232024
Annual deductible--minimum$2,650$2,800
Annual deductible--maximum$3,950$4,150
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$5,300$5,550
High deductible health plan--family coverage20232024
Annual deductible--minimum$5,300$5,550
Annual deductible--maximum$7,900$8,350
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$9,650 $10,200

Flexible spending account (FSA) for health care

Health care FSAs20232024
Maximum salary reduction contribution$3,050 $3,200

Health Savings Accounts (HSAs)

Annual contribution limit20232024
Self-only coverage$3,850 $4,150
Family coverage$7,750 $8,300
High deductible health plan--self-only coverage20232024
Annual deductible--minimum$1,500 $1,600
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$7,500 $8,050
High deductible health plan--family coverage20232024
Annual deductible--minimum$3,000 $3,200
Annual out-of-pocket expenses required to be paid (other than for premiums) can't exceed$15,000 $16,100
Catch-up contributions20232024
Annual catch-up contribution limit for individuals age 55 or older$1,000 $1,000
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The information contained herein is based on sources believed to be reliable, but its accuracy cannot be guaranteed. The articles, information, calculators, and opinions presented herein are for general information only and are not intended to provide specific advice or recommendations for any individual. New Capital Management does not provide tax, accounting, or legal advice. All decisions regarding the tax or legal implications of your investments and finances should be made with your tax or legal advisor. New Capital Management is not a bank, mortgage lender, or broker. Nothing herein should be construed as an offer or commitment to lend. Any calculations are provided as educational tools, are hypothetical in nature, depend wholly on information you provide, do not assume the effects of all pertinent factors, and are not intended to provide investment advice or serve as a financial plan.



This communication is strictly intended for individuals residing in the state(s) of TX. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2024.