On October 18, 2022, the Internal Revenue Service (IRS) 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.
Benefit | 2022 | 2023 |
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 |