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Meredith Sims, ChFC®, CSRIC®
Financial Advisor
Sustainable Investing
Financial Planning
Wealth Management,
678-254-0860
meredith@heartstrongwealthplanning.com
www.heartstrongwealthplanning.com

January 09, 2024

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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Securities offered through Cabot Lodge Securities, LLC Member FINRA/SIPC/MSRB. 425 N Martingale Rd, Suite 1220, Schaumburg, IL 60173, 888.992.2268. Advisory services through CL Wealth Management, LLC, 425 N Martingale Rd, Suite 1220, Schaumburg, IL 60173, 888.992.2268 - SEC Registered. Heart Strong Wealth Planning is not controlled by or a subsidiary of Cabot Lodge Securities LLC or CL Wealth Management LLC. Heart Strong Wealth Planning, CL Wealth Management LLC and Cabot Lodge Securities LLC do not provide tax advice. Any discussion of taxes herein is for informational purposes. You should consult with an attorney or accountant concerning tax advice.

This information was developed by Broadridge, an independent third party. It is general in nature, is not a complete statement of all information necessary for making an investment decision, and is not a recommendation or a solicitation to buy or sell any security. Investments and strategies mentioned may not be suitable for all investors. Past performance may not be indicative of future results.

Prepared by Broadridge Advisor Solutions Copyright 2024.