The IRS has announced the 2022 contribution limits for flexible spending accounts (FSA), commuter benefits, and more. Here’s a look at what’s changing.
- Health FSA: $2,850 (Increased from $2,750). This also applies to limited purpose FSAs.
- FSA Carryover: $570 (Increased from $550). Important Note: Under the Consolidated Appropriations Act (CAA), employers can allow participants to roll over all unused FSA and dependent care funds to plan years ending in 2022, but not beyond.
- Commuter (Parking and Transit): $280 per month (Increased from $270).
- Dependent Care: The annual limits will revert to $5,000 for single taxpayers and married couples filing jointly, or $2,500 for married people filing separately.
- Qualified Small Employer HRA: $5,450 for individuals and $11,050 for family.
- HSA (Announced previously): $3,650 for individuals and $7,300 for family.
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