IRS Announces 2019 Adjustments
Today, the IRS announced Revenue Procedure 2018-57 which provides the 2019 cost-of-living increases for inflation for certain items. In 2019, the:
- Annual healthcare flexible spending account (FSA) contribution limits will increase $50 from the current amount of $2,650 to $2,700
- Monthly limit for transit and parking will increase $5 from the current amount of $260 to $265
- Annual maximum reimbursement for a qualified small employer health reimbursement arrangement (QSEHRA) will increase $100 for individual coverage from the current amount of $5,050 to $5,150, and the maximum reimbursement amount will increase $200 for family coverage from the current amount of $10,250 to $10,450
As a reminder, on May 10, 2018, the IRS announced 2019 health savings account (HSA) contributions limit increases. In 2019, the annual HSA contribution limit for individual coverage will increase $50 from the current $3,450 to $3,500, and the family coverage contribution limit will increase $100 from the current $6,900 to $7,000.
If you have any questions, please contact us for more information.