Many employee benefits are subject to annual dollar limits that are updated for inflation before the beginning of each calendar year. Due to high inflation rates, many employee benefit plan limits will substantially increase in 2023. Note that some benefit limits are not indexed for inflation, such as the dependent care FSA limit and the catch-up contribution limit for HSAs.
For plan years beginning on or after Jan. 1, 2023, the following limits have increased:
- HSA contribution limits:
- Single coverage—$3,850 (up $200 from 2022)
- Family coverage—$7,750 (up $450 from 2022)
- Health FSA contribution limit—$3,050 (up $200 from 2022)
- Health FSA carryover limit—$610 (up $40 from 2022)
- Transportation fringe benefit plan monthly limits—$300 (up $20 from 2022) Employees’ 401(k) elective deferral limit—$22,500 (up $2,000 from 2022)
- Employees’ 401(k) catch-up contribution limit—$7,500 (up $1,000 from 2022)
News & Opportunities
The Impact of Return-to-Work Programs on Workers’ Comp Expenses
May 3, 2024
Return-to-work programs provide support to employees as they reintegrate into the workforce following a work-related
Return-to-work programs provide support to employees as they reintegrate into the workforce following a work-related
Webinar Recap: Seubert Surety Chat
May 2, 2024
Get highlights from our Seubert Surety Chat webinar and see how your business can stay
Get highlights from our Seubert Surety Chat webinar and see how your business can stay
Mental Health Awareness Month
May 1, 2024
May, designated as Mental Health Awareness Month, highlights the importance of promoting mental well-being and
May, designated as Mental Health Awareness Month, highlights the importance of promoting mental well-being and