October 18, 2022
2023 Medical FSA and QTA annual limits - The IRS has announced that the 2023 annual salary reduction limit for Medical FSAs is $3,050. The annual maximum for Dependent Care FSAs remains $5,000 or $2,500, depending upon federal tax filing status. The Medical FSA Carryover limit increases from $570 to $610. The monthly maximum available under Transit and Parking Account plans increases from $280 to $300. The annual maximums for QSEHRAs are $5,850 (employee only) and $11,800 (family). As a reminder, the 2023 annual maximum contributions for Health Savings Accounts are $3,850 (employee only) and $7,750 (family). The HSA Catch-up contribution remains steady at $1,000.