IRS Announces 2019 Contribution Limits for Health Care FSAs and Qualified Transportation Plans

11/15/2018 Written by: Patrick Haynes

Today, the Internal Revenue Service announced the tax year 2019 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes (generally referred to as cost-of-living increases). Revenue Procedure 2018-57 provides details about these annual adjustments.The 2019 tax items of greatest interest to our clients that are employers and plans sponsors include:

  • 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.

Please contact your Account Manager or Sales Executive for more information.

Caregiver-conscious Benefits: An Interview with the Hazelden Betty Ford Foundation
Employee Benefits07/18/2024

An organization’s overall wellness program reaches not only their employees. It reaches an employee’s loved ones, including their spouses and their dependents. This is why it is essential to think...

Pharmacy's Role in Your Small Business Benefits Budget
Employee Benefits07/16/2024

Employers across the nation are trying to find new ways to contain the rising costs of prescription drugs. For many small businesses, employee benefits can be a key way to attract and retain top...

The Relationship Between Pharmacies and Reference-Based Pricing
Employee Benefits07/09/2024

Pharmacies-and-Reference-Based-Pricing Health care costs continue to rise, a longtime trend that pushes organizations to lower expenses at every opportunity, though confronting the affordability...