DID YOU KNOW?

October 21, 2015

On Oct. 21, 2015, the IRS announced the annual contribution limit for health flexible spending accounts (FSAs) starting in 2016. According to this guidance, for taxable years beginning in 2016, the dollar limitation on employee salary reduction contributions to health FSAs will remain unchanged at $2,550.

 

The FSA dollar limit first became effective in 2013 as part of the Affordable Care Act (ACA).

 

An employer may continue to impose its own dollar limit on employees’ salary reduction contributions to health FSAs, as long as the employer’s limit does not exceed the ACA’s maximum limit in effect for the plan year. Employers should ensure that their cafeteria plan documents reflect the appropriate health FSA dollar limit.

Please reload

Featured Posts

Open Enrollment Management

September 27, 2019

1/3
Please reload

Recent Posts

September 27, 2019

August 8, 2019

January 31, 2019

September 10, 2018

Please reload

Search By Tags
Please reload

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square

© 2014 360benefits, Inc.

  • w-facebook
  • Twitter Clean
  • w-linkedin
TEL: 720.204.3019 | EMAIL: support@360benefitsonline.com