Today, the IRS announced several Cost of Living Adjustments (COLA). Increases were made to the Health FSA and Carryover as well as Commuter Benefits
- Health FSA (full and Limited) – the new limit is set at $2850
- Carryover – The new limit is set at $570a
- Commuter – The new limit is set at $280 (this applies independently to Parking and Transit Accounts under parity)
- Highly Compensated Individual Definition- the salary limit for classifying a highly compensated individual increased to $135,000
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