IRS Increases 2019 FSA Limit
The IRS recently announced that the pre-tax contribution maximum for health flexible spending accounts (FSAs) will be increased from $2,650 to $2,700. There is no change in the Dependent Care FSA limits.
For employers whose open enrollments have already closed, you may choose whether to increase these maximum limits this year or wait until next year. If your open enrollment is ongoing, you should communicate the 2019 limit to your employees as part of the open enrollment process.
For more information, please contact your Lovitt & Touché representative!