IRS Announces 2019 Adjustments

The IRS recently announced Revenue Procedure 2018-57, which provides the cost-of-living increases and inflation adjustments for certain items.

The notable items for 2019 are:

  • Annual healthcare Flexible Spending Account (FSA) contribution limits will increase $50 from the current amount of $2,650 to $2,700.
  • Monthly limit for transit and parking will increase from $5 from the current amount of $260 to $265.
  • Annual maximum reimbursement for a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) will increase $100 for individual coverage from the current amount of $5,050 to $5,150, and the maximum reimbursement amount will increase $200 for family coverage from the current amount of $10,250 to $10,450.

This is in addition to the announcement the IRS made on May 10, 2018 that stated the 2019 Health Savings Account (HSA) contributions limit increase for 2019. The limit for individual coverage will increase $50 from the current $3,450 to $3,500, and the family coverage contribution will increase $100 from the current $6,900 to $7,000.

Please feel free to Contact Us with any questions regarding these changes.

Sales

 
Liz O'Colmain
Liz O’Colmain
Regional Sales Director
Territory: Maryland, D.C., Virginia Certified in Flexible Compensation
Becky Crutchfield
Becky Crutchfield
Director, Partner Growth & Business Development
Carter Lynch
Carter Lynch
Regional Sales Manager
Territory: Florida, South Carolina, North Carolina, Tennessee, Louisiana, Alabama, Mississippi, Arkansas
Mark Sparber
Mark Sparber
Regional Sales Manager
Territory: New England, New York, New Jersey
Clarity Claire
Clarity Claire
Benefits Connoisseur

Strategic Partnerships

 

Employee benefits always start with people.

Do you need new ideas? Are you ready to move to a new technology but do not know where to begin? Do you know your employees are not receiving all the benefits they deserve? One of our people will be happy to help you better serve your people.