Many benefit plan limits have changed for the new calendar year. Here are some limits to review for 2023:
401(k) Limits
- Pre-tax contributions: $22,500 (up $2,000 from 2022)
- Catch-up contributions: $7,500 (up $1,000 from 2022)
Flexible Spending Account (FSA) Limits
- Health FSA contributions: $3,050 (up $200 from 2022)
- Health FSA carry-over: $610 (up $40 from 2022)
- Dependent Care FSA contributions: $5,000 (no change from 2022)
Health Savings Account (HSA) Limits
- Pre-tax contributions: Single coverage: $3,850 (up $200 from 2022)
- Family coverage: $7,750 (up $450 from 2022)
- Catch-up contributions: $1,000 (no change from 2022)