Background

Federal law sets annual limits on various tax-preferred employee benefit plans. The following chart compares the 2021 and 2022 limits for the most common types of plans and benefits:

Benefits Plan Limits Comparison2022 Limits2021 Limits
Social Security (Old Age Survivors Disability Insurance (OASDI))$147,000$142,800
Medicare (Part A, hospitalization)UnlimitedUnlimited
Health Flexible Spending Account (FSA) Maximum Contribution (per plan year)$2,850$2,750
Parking$280/month$270/month
Transit Pass / Commuter Vehicle$280/month$270/month
Maximum Salary Deferral (§401(k) / §403(b) / §457)$20,500$19,500
Maximum “Catch-Up” Salary Deferral (age 50 or older)$6,500$6,500
Compensation Limit (§401(a))$305,000$290,000
Maximum Defined Benefit Limit$245,000$230,000
Defined Contribution Annual Additions Limit (§415)$61,000$58,000
“Key Employee” Compensation Limit$200,000$185,000
“Highly Compensated Employee” Limit$135,000$130,000
Health Savings Accounts (HSA)2022 Self-Only Limits2022 Family Limits2021 Self-Only Limits2021 Family Limits
HSA Maximum Contribution$3,650$7,300$3,600$7,200
HSA Maximum “Catch-Up” Contribution (age 55 or older)$1,000$1,000$1,000$1,000
High-Deductible Health Plan (HDHP) Minimum Deductible$1,400$2,800$1,400$2,800
HDHP Maximum Out-of-Pocket Expense$7,050$14,100$7,000$14,000

 


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EPIC offers this material for general information only. EPIC does not intend this material to be, nor may any person receiving this information construe or rely on this material as, tax or legal advice. The matters addressed in this document and any related discussions or correspondence should be reviewed and discussed with legal counsel prior to acting or relying on these materials.

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