By Jessica Waltman, Principal, Forward Health Consulting
On October 18, 2022, the Internal Revenue Service issued Revenue Procedure 2022-38 that sets forth various 2023 tax-related limits that have been adjusted for inflation. The table below identifies updates to the 2023 health and fringe benefit plan limits addressed in the notice.
|Maximum Annual Employee Contribution to a Health Flexible Spending Account (Health FSA)||$2,850||$3,050|
|Health FSA Carryover Limit||$570||$610|
|Adoption Assistance Programs||$14,890||$15,950|
|Maximum Annual Employer Contribution to Qualified Small Employer HRA (QSEHRA)||$5,450 (self-only coverage) $11,050 (family coverage)||$5,850 (self-only coverage) $11,800 (family coverage)|
|Maximum Monthly Benefit for Qualified Transit Passes, Van Pool Services, and Qualified Parking||$280||$300|