What are the contribution limits for FSAs?

Employees can elect separate annual contribution amounts for Health Care and Child & Elderly Care FSAs up to the annual IRS limits. Those with a Child & Elderly Care FSA are subject to the limit defined by their federal filing status.

Single or
Married, Filing Jointly
Married and Filing Separately
Health Care $2700 (2019); $2750 (2020) $2700 (2019); $2750 (2020)
Child & Elderly Care FSA $5000 $2500

Health Care

For spouses filing jointly, each spouse can elect up to the health care max in the year (in 2020, that would be $2750 + $2750 = $5500 household total). 

Child & Elderly (Dependent) Care

Total contributions for both the employer and employee cannot exceed $5000 for Dependent Care FSAs (any amount exceeding that is taxable income). Additionally when a married couple files separately, the total combined contribution for Dependent Care FSAs cannot exceed $2500 for each.

Was this article helpful?  

Still need our help? Our support team is waiting to help you. Contact us