The IRS has announced the 2022 contribution limits for flexible spending accounts (FSA) and more.
Health FSA Maximum Increase
The Health FSA maximum has increased to $2,850 (from $2,750).
Health FSA Carryover
The Health FSA Carryover maximum has increased to $570 (from $550).
Important Note: If you have amended your Plan due to the Consolidated Appropriations Act (CAA), you may allow participants to roll over all unused Health FSA and dependent care funds to plan years ending in 2022 only.
Dependent Care Maximum
The annual limits for Dependent Care will revert to $5,000 for single taxpayers and married couples filing jointly, or $2,500 for married people filing separately.