Maximum Employee Contribution to Health Flexible Spending Accounts Increasing in 2015
By: Nancy L. Farnam
The maximum annual employee contribution to a health flexible spending account plan is increasing to $2,550 for 2015 (up $50 from the $2,500 limit that has applied since 2013).
Employers that sponsor health flexible spending accounts should consider whether they wish to adopt this higher limit for 2015. If so, the increased amount should be communicated to employees in open enrollment or other materials. In addition, the cafeteria plan document may require an amendment.
If you have any questions about the subject matter of this e-alert, please contact Nancy Farnam at firstname.lastname@example.org or (248) 530-6333; Kristi Gauthier at email@example.com or (480) 684-1300; Ed Hammond at firstname.lastname@example.org or (248) 988-1821; or Doug Ellis at email@example.com or (412) 394-2367.