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Legislative News

Announcing 2017 Limits for Flexible Spending Accounts

The Internal Revenue Service (IRS) recently announced annual inflation adjustments for 2017. Revenue Procedure 2016-55 provides details about these annual adjustments. It includes the 2017 limits for Health Care Flexible Spending Accounts (FSAs) and Limited Purpose FSAs benefits. These limits are effective January 1, 2017.

Health Care FSAs and Limited Purpose FSAs
The 2017 pretax contribution limit for Health Care FSAs and Limited Purpose FSAs is $2,600. This is a $50 increase over the 2016 limit.