Federal law sets annual limits on various tax-preferred employee benefit plans. The IRS updates benefit limits periodically throughout the year. On October 18, 2022, the Internal Revenue Service (IRS) released Revenue Procedure 2022-38 updating limits for Flexible Spending Accounts (FSAs), commuter benefits, and other important benefits for 2023. The following chart compares the 2022 and 2023 limits for the most common types of plans and benefits.

Benefits Plan Limits Comparison
Taxable Wage Base20222023
Social Security Old Age, Survivors, and Disability Insurance (OASDI)$147,000$160,200
Medicare (Part A, hospitalization)UnlimitedUnlimited
Health Flexible Spending Accounts (Health FSA)20222023
Health FSA Maximum Contribution (per plan year)$2,850$3,050
Health FSA Maximum Carryover (per plan year) $570$610
Qualified Transportation Benefits20222023
Transit Pass/Commuter Vehicle$280/month$300/month
Health Savings Accounts (HSA) Limits2022 Self-Only 2022 Family 2023 Self-Only 2023 Family
HSA Maximum Contribution$3,650$7,300$3,850$7,750
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$1,500$3,000
High-Deductible Health Plan (HDHP) Embedded MinimumN/A$2,800N/A$3,000
HDHP Maximum Out-of-Pocket Expense$7,050$14,100$7,500$15,000


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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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