Claims Login      COBRA Login      Survey Login        Get In Touch

IRS Announces 2017 Limits for Health FSAs and Transit Benefits | PA Benefit Advisors

1104On October 25, 2016, the Internal Revenue Service (IRS) announced annual inflation adjustments for more than 50 tax provisions, including an increase in voluntary employee contributions to employer-sponsored healthcare flexible spending arrangements (HFSAs) to $2,600 for plan years beginning in 2017, up from the 2016 limit of $2,550.

The IRS also announced there will be no change in the monthly limits for qualified transportation fringe benefits under ยง 132(f). For transportation in a commuter highway vehicle and any transit pass, the limit remains at $255. The monthly limit for qualified parking also is $255.

Details of this announcement can be found in the Revenue Procedure 2016-55, which is scheduled to be published in final format in early November.


Originally published by ThinkHR – Read More

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA / SIPC, to residents of: DC, FL, MD, NJ, NY, OH, PA, SC, TX, CA, CO, GA, and OK. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Webber Advisors and the Leavitt Group are not affiliated with Cambridge. Fixed insurance and benefit services are not offered through Cambridge.

Testimonials provided are related to insurance and employee benefit services.