Benefit Plan Limits Announced for 2019

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The Internal Revenue Service announced in Revenue Procedure 2018-57  the annual inflation adjustments for more than 40 tax provisions for 2019.
Benefit limitations for 2019 include:

  • The Flexible Spending Account (FSA) annual contribution limit has increased to $2,700
  • Parking and Transit monthly contribution limit have both been increased to $265 per month
  • Payments and reimbursements under a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) can not exceed $5,150 for single coverage and $10,450 for family coverage

Health Saving Account (HSA) minimums and maximums were previously announced earlier this year. You can view these amounts at https://www.basiconline.com/regulations-resources/hsaregulations/

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