IRS 2019 Limits for Flexible Spending & Parking/Transit Accounts
Flexible Spending Account

An FSA is an account that allows employees to pay medical expenses on a tax-free basis using funds contributed through a salary deduction. Eligible medical expenses are defined under Section 213(d) of the IRS Code.

Pre-tax Parking and Transit benefits are defined under Section 132 of the IRS code.
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IRS 2019 Limits for Health FSAs, Parking & Transit Accounts

The new annual limit for health FSAs, including general-purpose and limited-purpose health FSAs, is $2 700 for plan years starting on or after January 1, 201 9.
The $2, 700 limit is prorated for short plan years (plan years that are shorter than 12 months), and any carryover amount from participants' previous plan years may be added to the limit. The $500 carryover does not count against or affect the $2,700 salary reduction limit. 

Example: Participants may elect $2,700 for the 2019 plan year and carry over a maximum of $500 from the previous plan year, making their total account value $3,200 for the 2019 plan year.

Parking and Transit Accounts have increased from $260 to $265 each for calendar year 2019.  
Because the increases are approved late in the fall after many Open Enrollments are closed, employers have the option of waiting until next year to increase their limits.  You may need to amend your FSA plan to allow the new higher contribution amount. Please contact your Plan  administrator if you wish to increase your FSA limit or Parking/Transit limits. 

For a complete review of the updates to the 2019 tax provisions refer to Revenue Procedure 2018-57