Attention – there is good news for employer-sponsored benefit accounts in 2019! The IRS has raised the annual contribution limits for Health Savings Accounts, Flexible Spending Accounts, and Commuter benefit accounts. That means you can save more on healthcare expenses and pay less in taxes.
See the sections below for HSA, FSA, and Commuter benefit account contributions limits for 2019.
The IRS released HSA contribution limits for 2019 back in May 2018. The government agency also announced out-of-pocket expense maximum limits and annual deductibles.
HSA contribution limits for both single and family coverage went up, as did maximums for out-of-pocket expenses. Annual deductibles remain the same.
|Self-only coverage||HSA contribution limit||$3,500||$3,450|
|Out-of-pocket expense limits (maximum)||$6,750||$6,650|
|Annual deductible (minimum)||$1,350 (no change)||$1,350|
|Family coverage||HSA contribution limit||$7,000||$6,900|
|Out-of-pocket expense limits (maximum)||$13,500||$13,300|
|Annual deductible (minimum)||$2,700 (no change)||$2,700|
Learn more about HSAs:
On November 15, 2018, the IRS published the 2019 FSA contribution limits.
For 2019, FSA participants may contribute up to $2,700, which is an increase of $50. This applies to both health FSAs and limited purpose FSAs. For people with a Dependent Care FSA, the limit remains at $5,000.
|2019 Annual Limit||2018 Annual Limit|
|Limited Purpose FSA||$2,700||$2,650|
|Dependent Care FSA||$5,000 (no change)||$5,000|
Learn more about FSAs:
In addition to raising the contribution limits for HSAs and FSAs, the IRS also raised the limits for qualified transportation fringe and parking benefits. Next year, the limits go from $260.00 to $265.00 per month.
Bicycle commuter benefit limits did not change and remain at $20.00 per month.
|2019 Monthly Limits||2018 Monthly Limits|
|Bicycle||$20.00 (no change)||$20.00|
Learn more about how Transit and Parking benefits: