On October 20th, the IRS released the new limits for these accounts in Revenue Procedure 2017-58 and Notice 2017-64.
The inflation adjusted increases for 2018:
- 401(k), 403(b) or 457 plans: Employee's maximum contribution limit increases to $18,500 in 2018, from $18,000 in 2017
- FSAs: Employee's maximum contributions increase to $2,650 in 2018, from $2,600 in 2017
- Transit/Parking: Exclusion increases to $260 in 2018, from $255 in 2017
- Adoption Expenses Exclusion: Increases to $13,840 in 2018, from $13,570 in 2017
- QSEHRA: Maximum reimbursement increases to $5,050 for single and $10,250 for family in 2018, up from $4,950 and $10,050 in 2017
Alegeus will continue to keep you up to date as the IRS releases the cost of living adjustments for other benefit accounts.
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