As of 2013, there is a $2500 maximum limit on employee payroll contributions towards all medical FSA accounts.
- The Affordable Care Act (ACA) is placing additional requirements on a medical Flexible Spending Account (FSA) effective with the 2013 calendar year. A $2500 maximum limit on employee payroll contributions will be imposed on all medical FSA accounts.
- Communicate this new requirement to your employees to prepare them for open enrollment. Please note that unlike the dependent care FSA limit of $5000 per family, the medical FSA limit is on a per account holder basis.
Past Topics:
The temporary increase to the monthly reimbursement maximums for Transportation Reimbursement Accounts (TRA), as issued by the Internal Revenue Service (IRS), is set to expire on December 31, 2011.
If you offer a TRA for your employees and have not already informed them of this change, you will want to alert them that beginning January 1, 2012, the new reimbursement limits are as follows:
- Transit passes and vanpooling (combined) - $125 per month
- Qualified parking - $240 per month
If you have questions about this information, contact SelectAccount at 1-888-460-4013.
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2012 Minimum Deductibles for HSA Compliant HDHPs
- Individual $1,200 (unchanged)
- Family $2,400 (unchanged)
2012 Maximum Out-of-Pockets for HSA Compliant HDHPs
- Individual $ 6,050 (2011 limit is $5,950)
- Family $12,100 (2011 limit is $11,900)
2012 Maximum Annual Contribution Levels
- Individual $3,100 (2011 maximum is $3,050)
- Family $6,250 (2011 maximum is $6,150)
"Catch up" amount for 55+ account holders is $1,000 (unchanged)
If you have questions about this information, contact SelectAccount at 1-888-460-4013.