The IRS has released the 2023 Flexible Savings Account (FSA) inflation adjustments. These changes will take place for plan years that begin on or after January 1, 2023.
For employers who currently allow the FSA maximum, unless told otherwise, OCA will automatically amend the new FSA maximum to reflect the 2023 increase. OCA will also be providing additional 2023 employee guides/marketing material in the upcoming days. *The limit also applies to limited-purpose FSAs.
2023 Limit Increases
*The limit also applies to limited-purpose FSAs
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