News
October 18, 2022
2023 Health FSA Contribution Cap Rises to $3,050
Employees can put an extra $200 into their health care flexible spending accounts (health FSAs) next year, the IRS announced on Oct. 18, as the annual contribution limit rises to $3,050, up from $2,850 in 2022. The increase is double the $100 rise from 2021 to 2022 and reflects recent inflation.
If the employer's plan permits the carryover of unused health FSA amounts, the maximum carryover amount rises to $610, up from $570.
If the employer's plan permits the carryover of unused health FSA amounts, the maximum carryover amount rises to $610, up from $570.
For more information, visit https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/2023-fsa-contribution-cap-and-other-colas.aspx?
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