IRS Announces 2023 FSA & Commuter Contributions Limits
October 21, 2022 | FSA Industry News Quick Alerts
IRS Announces 2023 FSA & Commuter Contributions Limits
The IRS has announced Revenue Procedure 2022-38 which includes the 2023 contribution limits for Health FSAs and Commuter benefits. These changes will take place for plan years that begin on or after January 1, 2023. For employers who currently allow the FSA maximum, OCA will automatically be increasing the new FSA maximum to reflect the increase.
Click the button below to access 2023 Open Enrollment Material
2023 Limit Increases
| Benefit Type | 2023 | 2022 | Change |
| Health FSA Limit* *The limit also applies to limited-purpose FSAs | $3,050 | $2,850 | + $200 Annually |
| Health FSA Carryover Amount | $610 | $570 | + $40 Annually |
| Dependent Care Account Limit | $5,000 | $5,000 | No Change |
| Monthly Transit Account Limit | $300 | $280 | + $20 per month |
| Monthly Parking Account Limit | $300 | $280 | + $20 per month |