The IRS has announced that contribution limits for 2019 Flexible Spending Accounts (FSAs) will increase to $2700 from the 2018 limit of $2650. FSA contribution limits work on an individual basis, therefore each spouse may individually contribute up to the new limit for the 2019 plan year.
Typically, the contribution limits for FSAs have increased by $50 from year to year. These limits are increased to account for inflation and higher cost of living.
If you would like to enroll in an FSA, please contact the payroll or human resources department of your employer. You may elect to enroll in an FSA and elect your annual contribution during your employer’s open enrollment period.
If you experience a qualifying life-changing event (as defined by the IRS) such as marriage, the birth of a child, divorce, or death of a spouse, you have the option of adjusting your annual contribution amount outside of the open enrollment period. To do so, please contact your employer’s payroll or human resources department.