IRS Announces 2019 Limits for Health FSAs and Transit Benefits
Today, the Internal Revenue Service (IRS) announced annual inflation adjustments for more than 50 tax provisions, including an increase in voluntary employee contributions to employer-sponsored healthcare flexible spending arrangements (HFSAs) to $2,700 for plan years beginning in 2019, up from the 2018 limit of $2,650.
The IRS also announced an increase in the 2019 monthly limits for qualified transportation fringe benefits under Code § 132(f). For transportation in a commuter highway vehicle and mass transit passes, the limit will be $265 (up from $260 this year). The separate monthly limit for qualified parking also will increase to $265.
Details of this announcement can be found in Revenue Procedure 2018-57, which is scheduled to be published next month in the IRS bulletin.