2022 FSA Contribution Limit Increased to $2,850

2021 FSA contribution limits

On November 10, 2021, the Internal Revenue Service (IRS) published Rev. Proc. 2021-45, in which it announced annual limits for Flexible Spending Account (FSA) contributions, maximum carryover amounts, Transportation benefit (Transit/Commuter/Parking) contribution limits and Qualified Small Employer Health Reimbursement Arrangement (QSEHRAs) limits.

2022 FSA Contribution Limit

The annual maximum 2022 FSA contribution limit will be $2,850. This limit applies to health FSAs.

Health FSAs can be used for a wide range of qualified out-of-pocket healthcare expenses. These can include over-the-counter and prescription medications, copays, vision and dental expenses, lab fees, therapy, and more.

2022 FSA Carryover Maximum

In addition to the 2022 FSA contribution limit, the annual maximum carryover amount was also published. Health FSA participants may carry over a maximum of $570 in unused funds to the following year.

2022 Transportation Benefit Limits

Transportation benefit limits were also included in the IRS notice. Both transit and parking benefit limits are $280 per month, each, for the 2022 plan year.

2022 HSA Contribution Limits

The IRS had previously released the 2022 HSA contribution limits. Both the single coverage and family coverage annual limits will go up. Catch up contribution limits for people age 55 and older remain the same at $1,000.

Single CoverageFamily CoverageCatch Up Contribution
(Age 55+)
2022$3,650 (+ $50)$7,300 (+ $100)Limit + $1,000
2021 $3,600 $7,200  Limit + $1,000

QSEHRA Limits for 2022

For Qualified Small Employer Health Reimbursement Arrangements, the 2022 limits are $5,450 for a single and $11,050 for a family.

DataPath, Inc. creates cloud-based administration solutions for FSAs, HRAs, HSAs, and Transit accounts.

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