What are limits for FSAs for 2023?

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Our company is going into our enrollment period and I can’t find any definitive information on contribution limits for Healthcare or Dependent Care FSAs for 2023.  When will those be announced/published?

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Posted by GGS
Asked on October 14, 2022 12:58 pm
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You are correct that the 2023 amounts have not been announced yet.  In the past, the IRS has typically announced the limits for the following year but in 2021 the IRS announced the 2022 limits on November 10 so I would expect a similar release time this year.

That being said, because the annual increase is tied to changes over the past year in the Consumer Price Index, it has been widely reported that the Health FSA limit will increase to $3050 for Plan Years beginning in 2023 (up from $2,850 this year).   That is probably a safe number to plan around for your open enrollment.

FYI, the Dependent Care FSA limit does not automatically moved every year.  It is fixed at $5,000.

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Posted by Trey Tompkins (Questions: 2, Answers: 32)
Answered on October 14, 2022 1:05 pm
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