You'll need to sign in or create an account to connect with an expert.
The maximum amount an employee can contribute to a health care FSA is set by the employer as long as it does not exceed the Internal Revenue Service (IRS) maximum of $2,700 for the 2019 plan year. The IRS maximum is indexed to the consumer price index annually to account for changes in the cost of living.
The maximum amount an employee can contribute to a dependent care FSA is set by the employer as long as it does not exceed the IRS maximum which is $5,000 a year for individuals or married couples filing jointly, or $2,500 for a married person filing separately. Married couples have a combined $5,000 limit, even if each has access to a separate FSA through his or her employer. The dependent care FSA maximum is set by statute and is not subject to inflation-related adjustments.
An employer should advise employees to plan and allocate funds carefully because any unused funds that remain in the account at year end are forfeited.
@mystory16 The maximum contribution is $2,700 for 2019 per individual. However, a married couple can contribute a maximum of $5,000, as Critter has indicated above.
[edited 11-22-19 | 6:21 am pst]
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
kisunkom
New Member
goodglarp
Level 3
OvermyheadNE
Returning Member
tayfun2022
New Member
Fullerene
Returning Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.