Benefit Plan Limits Announced for 2019
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/
