IRS Announces 2019 Health Plan Contribution Limits
In October, the IRS posted Revenue Procedure 2018-57 which provides the 2019 cost-of-living increases for inflation for certain items along with some adjustments to Health Savings Accounts (HSA), Flexible Spending Accounts (FSA),Qualified Small Employer Health Reimbursement 9831 Arrangement (QSEHRA) and more. In 2019, the:
- The annual HSA contribution limit for individual coverage will increase $50. The current $3,450 will rise to $3,500, and the family coverage contribution limit will increase $100. The current $6,900 will rise to $7,000.
- Annual FSA contribution limits will increase $50 from the current amount of $2,650 to $2,700.
- Annual maximum reimbursement for a QSEHRA will increase $100 for individual coverage from the current amount of $5,050 to $5,150. The maximum reimbursement amount for family coverage will increase $200 from the current amount of $10,250 to $10,450.
If you have any questions or would like more information on these changes, please contact us! We are ready to help!