October 18, 2022

IRS Increases Limits for 2023 Health FSA and Commuter Benefits

Employee Benefits

1 min read

IRS Increases Limits for 2023 Health FSA and Commuter Benefits

The IRS released the 2023 plan year maximum contribution limits for Health Flexible Spending Accounts (FSAs) and Commuter Benefits in Revenue Procedure 2022-38. The table below reflects these changes:

EB Blog

Employers sponsoring FSA and commuter benefit plans are advised to work with their benefit administration vendors and payroll providers to ensure these new maximum contribution limits are updated for upcoming Open Enrollment periods as well as January 1, 2023.

Reach out to your Risk Strategies representative with questions or contact us at benefits@risk-strategies.com.

*At this time, the IRS did not announce any adjustments in this Revenue Procedure to Dependent Care Account maximum contribution limits, which remain unchanged.

The contents of this article are for general informational purposes only and Risk Strategies Company makes no representation or warranty of any kind, express or implied, regarding the accuracy or completeness of any information contained herein. Any recommendations contained herein are intended to provide insight based on currently available information for consideration and should be vetted against applicable legal and business needs before application to a specific client.

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