The Internal Revenue Service (IRS) has increased the dollar limit on employee contributions to health Flexible Savings Accounts (FSAs). Beginning in 2019 the FSA contribution limit is $2,700. Employers should communicate their 2019 limit to their employees as part of the open enrollment process. This “ACA Compliance Bulletin” goes on to provide background information and applicability for FSA contributions.
Contact your Cowden representative for more information on this or other compliance issues.