Health FSA Limit Will Increase for 2023
Highlights The health FSA dollar limit on employee salary reduction contributions will increase to $3,050 for plan years beginning in 2023. On Oct. 18, 2022, the IRS released Revenue Procedure 2022-38 (Rev. Proc. 22-38), which includes the inflation-adjusted limit for 2023 on employee salary reduction contributions to health flexible spending accounts (FSAs). The Affordable Care Act (ACA) […]
Qualified Transportation Fringe Benefit Limits to Increase in 2023
Qualified Transportation Fringe Benefit Limits to Increase in 2023 Highlights: The 2023 monthly limit for transportation in a commuter highway vehicle and transit pass (combined) is $300. The 2023 monthly limit for qualified parking is $300. These amounts represent a $20 increase from the 2022 limits. The IRS has released Revenue Procedure 2022-38, which includes cost-of-living […]
Employee’s Guide to Health Plans
Employee’s Guide to Health Plans Chart describing the differences between FFS, HMO, PPO, POS and HDHPs.
