News
Health FSA Limit Will Increase For 2020
Posted 11.11.19
The Internal Revenue Service (IRS) released Revenue Procedure 2019-44, which increased the health FSA dollar limit on employee salary reduction contributions to $2,750 for taxable years beginning in 2020. It also includes annual inflation numbers for 2020 for a number of other tax provisions.
An employer may continue to impose its own health FSA limit, as long as it does not exceed the ACA’s maximum limit for the plan year. This means that an employer may continue to use the 2019 maximum limit for its 2020 plan year.
Contact your NEEBCo representative with questions.