For 2020, employees can contribute $2,750 to health FSAs, up from the 2019 limit of $2,700, the IRS has announced. The increase also applies to limited-purpose FSAs that are restricted to dental and vision care services, which can be used in tandem with health savings accounts (HSAs). The Dependent Care FSA amount remains the same at $5,000 for 2020.
If you have already made your 2020 insurance elections and want to increase your Medical Reimbursement FSA contribution to the maximum limit, you will need to log in again and change that election before November 30.