The IRS has announced the 2022 FSA, Transit and Parking limits with increases due to inflation in Revenue Procedure 2021-45.
- Healthcare FSA annual contribution limit increased to $2,850 from $2,750
- Transit monthly maximum increased to $280/mo. from $270/mo.
- Parking monthly maximum increased to $280/mo. from $270/mo.
The Dependent Care FSA limit remains unchanged at $5,000 per year (or $2,500 if the account holder is married and files separately).
For questions, please contact your B&P Sales Rep - 888.722.3373.