Compliance Areas for 2024 You Might Not Have Thought Of

The end of the year brings a lot of final reports and loose ends to tie up. As an HR professional, you’re well-versed in working on multiple projects at once. But when it comes to maintaining compliance in a variety of areas, you need to be focused. 

There are some areas, though, that might not have crossed your mind yet. Let’s get into these areas that deserve another look before the new year starts: health savings accounts, overtime, retirement, remote employment, and the Affordable Care Act.

HSA Compliance

Health savings accounts (HSAs) have become commonplace in the last several years as a way to offset high deductible health plans. People like HSAs in part because of their triple tax advantage. Contributions, interest and earnings, and amounts distributed for qualified medical expenses are all exempt from federal income tax, Social Security/Medicare tax and most state income taxes. 

But because of these potential tax savings, there are strict rules to be followed, including limits on annual contributions and HDHP cost sharing.

As an HR professional, you’re aware that an individual can keep their HSA even if they switch jobs. That means you need to be acutely aware of changes, such as new annual limits on contributions and required coverage in 2024. 

For plan years beginning in 2024, the minimum annual deductible is $1,600 for self-only coverage and $3,200 for family coverage. For 2024 plan years, the maximum deductible and other out-of-pocket expenses (excluding premiums) are $8,050 for self-only coverage and $16,100 for family coverage.

For 2024, the maximum contribution is $4,150 for individuals with self-only HDHP coverage or $8,300 for individuals with family HDHP coverage. The limit is increased by $1,000 for eligible individuals age 55 or older at the end of the tax year.

If your company contributes to an HSA for employees, there is a special contribution rule for married individuals (and if you don’t contribute, do your employees a favor and let them know about this rule!). 

If either spouse has family HDHP coverage, then both spouses are treated as having only that family coverage. This means if both spouses are HSA-eligible and either spouse has family HDHP coverage, the spouses’ combined contribution limit is the annual maximum limit for individuals with family HDHP coverage ($8,300 for 2024). The contribution limit is divided equally between the spouses unless they agree on a different division.

Going back to if you contribute as an employer and those contributions are outside of a cafeteria plan, you (the company) must make comparable contributions to the HSAs of all comparable participating employees.

It’s a lot and you need to make sure other departments are in the know. We have a full list of HSA key features, eligibility requirements, and more available for download now. 

IRS 2024 Retirement Plan Limits

No matter how happy your employees are with your company, the majority likely dream of one day retiring. You and others in your HR department can help them prepare for retirement by sharing changed retirement plan limits for the coming year. 

The IRS has made a number of cost-of-living adjustments for 2023, including increasing the amount employees can contribute to their 401(k)s to $23,000 (up $500 from 2023). 

Share these following increases with your employees now before the end of the year so they can make the proper adjustments with your department and budgetary plans for their own families.  

  • Employee IRA contribution increases to $7,000 (up $500)
  • Employee contribution limit for SIMPLE IRAs and SIMPLE 401(k) plans increase to $16,000 (up $500)
  • Limits used to define a “highly compensated employee” and a “key employee” increase to $155,000 and $220,000, respectively (both up $5,000)
  • Annual limit for defined contribution plans (e.g. 401(k) plans, profit-sharing plans and money purchase plans) increase to $69,000 (up $3,000)
  • Annual compensation limit (applicable to many retirement plans) increase to $345,000 (up $15,000)

However, two areas remain unchanged for 2024. The IRA catch-up contribution limit for individuals aged 50 and over remains $1,000.

The catch-up contribution limit for employees aged 50 and over who participate in 401(k), 403(b), most 457 plans and the federal government’s Thrift Savings Plan remains unchanged at $7,500. Participants in these plans who are 50 or older can contribute up to $30,500, starting in 2024.

Remote Employee Involuntary Terminations

Now we strike a big shift from retirement to unfortunate situations of terminating employment. 

While remote, work from home and work from anywhere employment opportunities spiked during and immediately after the COVID-19 pandemic, trends are shifting away from these types of jobs. 

One outcome of the shift to remote work is involuntary terminations, whether that be because of shift in company focus, misconduct, performance issues, or overall company layoffs. The different scenarios can impact the offboarding process and compliance with applicable laws—especially if the employee is located in another state. 

Because of the complexities of terminating a remote employee, companies are encouraged to seek legal counsel in the new year to discuss specific concerns or issues. 

But we have a checklist that supervisors, managers or anyone in the HR department can use to ensure key steps are hit. While no one likes to think of this type of terminations, now is the time to gather this checklist and put in place a process to ensure the final administrative tasks needed to be completed before the employee’s last day are easy to accomplish. Those include compiling appropriate supporting documentation, finalizing payroll and tax paperwork, retrieving company property, terminating access to systems and files and drafting separation agreements. 

These checklists are a starting point for preparing your process for this uncomfortable situation, but will help you especially when working with remote employees. 

Affordable Care Act Reporting Requirements

The 2024 Affordable Care Act (ACA) electronic reporting deadline will be April 1, 2024, because March 31 falls on a Sunday in the new year. Many businesses like your likely are not an ALE, but it doesn’t hurt to review your status now and prepare for ACA 2024 compliance with our new checklist. 

For example, there are sections that require reporting data elements that taxpayers do not have to provide when preparing their tax returns (or by the IRS for tax administration). 

Your work must be complete by March 1, 2024, the date on which you must furnish statements to individuals where applicable. 

Because there are so many requirements for ACA reporting compliance (starting with if you are an ALE or not), we suggest downloading our new checklist and determining a proper schedule for work over the next couple of months.

State Overtime Salary Regulations

Do you have employees in California, Colorado, Maine, Nevada, New York or, Washington? If so, be aware of changes that go into effect Jan. 1, 2024, for overtime-eligible employees. 

These changes still do not apply to employees who work in an executive, administrative or professional (EAP) capacity. They are exempt from overtime pay if they satisfy, among other things, the salary level requirements for their exemption.

Those six states break down as follows. 

Jurisdiction2024 Salary LevelEffective DateNotes
CaliforniaStandard EAP salary level $1,280 per week $66,560 per year Computer Software EAP $55.58 per hour $9,464.96 per month $115, 763.35 per year Licensed physicians and surgeons $101.22 per hourJan. 1, 2024The standard EAP salary level is twice the state minimum wage rate.
ColoradoStandard EAP salary level $1,057.69 per week $55,000 per year Agricultural range workers TBA Highly technical computer employees TBA Highly compensated employees TBA Drivers and driver helpers TBA Seasonal camp or outdoor education field staff TBAJan. 1, 2024Most overtime salary thresholds are dependent on the state’s minimum wage rate.
MaineStandard EAP salary level $14.15 per hour $816.35 per weekJan. 1, 2024The EAP salary level is updated annually.
NevadaOvertime threshold TBAJuly 1, 2024The overtime threshold is one and one-half times the state’s minimum wage rate. Under state law, this threshold determines whether employees must receive overtime pay for work over 40 hours per week and 8 hours per workday (for employees under the threshold) or just for overtime work over 40 hours per week (for employees paid more than the threshold).
New YorkStandard EAP salary level $1,125 per week ($58,500 per year) employees in New York City, Nassau, Suffolk and Westchester; $1.064.25 per week ($55,341 per year) employees in the rest of the state.Already in effectThese salary levels were set by the state legislature.
WashingtonStandard EAP salary level $1,302.40 a week $67,724.80 a year Computer professional $56.98 per hourJan. 1, 2024The standard EAP salary level is twice the state’s minimum wage rate and applies to all employers regardless of size. The computer professional salary level is 3.5 times the state minimum wage rate.


Staying compliant is as important yet as complex as ever. Consider partnering with a trusted HR platform with professionals in all of these key areas. The partnership and trust to help keep you on track and on task is invaluable.

Staying compliant not only protects the organization from legal and financial risks but also fosters a positive work environment, attracts and retains top talent, and enhances the company’s reputation. It’s tough, but we have a checklist and a shareable graphic to help you get started.