Benefits Blog

2019 FSA Contribution Limits Announced

Posted by Meri Christenson on Wednesday, November 28, 2018 @ 11:49 AM

IRS_logo-300x300-80x80On Thursday, November 15, 2018, the IRS released a statement that officially increased the annual contribution limit for Healthcare Flexible Spending Accounts (FSA) - both Medical FSAs and Limited Purpose FSAs - and the monthly contribution limits for Qualified Parking and Transportation Accounts for any plan years beginning in 2019. There was no change to the Dependent Care Flexible Spending Account. 

Beginning on January 1, 2019, the maximum employee election amounts for FSAs are as follows:

Plan Type 2019 Limit 2018 Limit
Medical FSA $2,700 $2,650
Limited Purpose FSA $2,700 $2,650
Dependent Care FSA $5,000 $5,000
Qualified Parking $265/month $260/month
Qualified Transportation $265/month $260/month

As a note, most FSA plans automatically allow for the maximum contribution.  Please contact us if you have questions. 

And as a reminder, limits for Health Savings Account (HSA) contributions for 2019 were announced by the IRS on May 10, 2018. For those with Single coverage, the HSA contribution limit increased by $50, while accounts tied to Family coverage went up by $100. The catch-up contribution for HSA account-holders age 55 or older will remain the same at $1,000. Here is a summary of the HSA contribution limits for 2019 versus 2018:

Plan Type 2019 Limit 2018 Limit
HSA (Single Coverage) $3,500 $3,450
HSA (Family Coverage) $7,000 $6,900
HSA (Catch-up 55+) $1,000 $1,000

 If you have any questions about these change, please contact us

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Topics: IRS, FSA, contribution limits

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