IRS bumps up FSA, adoption limits, leaves others alone

By Jared Bilski

The IRS released the limits on flexible spending accounts (FSAs), adoption assistance and transit benefits for 2015. Here are the limits that will increase as well as those that will remain the same.
The most important change HR pros will want to note and let employees know about involves FSAs.

FSAs

In Rev. Procedure 2014-61, the feds increased the inflation adjusted contribution limit for health FSAs to $2,550 for the 2015 tax year. That’s a $50 increase from the current $2,500 contribution limit, and the first time the feds have increased the FSA limit since the Affordable Care Act capped contribution amounts.

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