HR Fast Facts: What Are the Contribution Limits for FSAs?

Learn about flexible spending account (FSA) contribution limits here.

Bookmark (0)

No account yet? Register

When Can Employees Enroll in Their Company's FSA Plan?

Employees elect separate annual contribution amounts for Health Care or Limited Purpose flexible spending account (FSA) and Child & Elderly Care FSAs (aka Dependent Care FSAs) up to the annual IRS limits. Those with a Child & Elderly Care FSA are subject to the limit defined by their federal filing status.

Single or
Married, Filing Jointly
Married and Filing Separately
Health Care / Limited Purpose FSA $2,750 (2021)
$2,850 (2022)
$3,050 (2023)
$2,750 (2021)
$2,850 (2022)
$3,050 (2023)
Child & Elderly Care FSA $5,000 (2021, 2022, 2023) $2,500 (2021, 2022, 2023)

 

Health Care

For spouses filing jointly, each spouse can elect up to the health care max in the year (in 2023, that would be $3,050 + $3,050 = $6,100 household total).

Child & Elderly (Dependent) Care

Total contributions for both the employer and employee cannot exceed $5,000 (2023) for Dependent Care FSAs for the calendar year. Any amount exceeding that is taxable income. Additionally, when a married couple files separately, the total combined contribution for Dependent Care FSAs cannot exceed $2,500 for each.

Bookmark (0)

No account yet? Register

Might also interest you