Open Enrollment 2023 - Contribution Limits & Plan Notices

See below for annual contributions limits For FSA, HSA, 403(B) & 457 Plans & FICA.

2023 IRS Limits for Healthcare and Dependent Care FSAs, and Limited Purpose FSAs 

The annual IRS limits for Healthcare FSAs and Limited Purpose Healthcare FSAs increases to $3,050 for 2023. The Dependent Care annual FSA limit remains at $5,000.*

2023 IRS Limits for Health Saving Accounts (HSA)* 

The annual IRS limits for Health Savings Accounts (HSAs) are increasing. The 2023 annual HSA limit for employees enrolled with individual medical coverage with the High Deductible PPO is $3,850; the limit for employees enrolled with family coverage in the High Deductible PPO is $7,750. Please note these limits include the College contribution ($750 for an individual; $1,500 for family coverage). This means that the maximum annual employee contribution to these plans for 2023 is $3,100 for individuals and $6,250 for family coverage. An additional contribution of $1,000 can be made by employees age 55+.

403(b) Contribution Limits for 2023*

  • The IRS annual voluntary contribution limit is increasing to $22,500 in 2023.
  • The annual catch-up contribution limit for eligible participants over age 50 is increasing to $7,500.
  • For participants over age 50, the combined elective deferral limit is increasing to $30,000. 
  • The combined contributions limit (includes elective and non-elective deferrals and company matching contributions) is increasing to $66,000 ($73,500 inclusive of catch-up contributions) for 2023.
  • The Section 457 plan limit is increasing to $22,500 in 2023 for eligible participants. 
  • The annual eligible compensation limit for retirement plans is increasing to $330,000 in 2023.

Changes to Social Security Wage Base for 2023*

The maximum amount of wages subject to the 6.2% Social Security tax is increasing to $160,200 in 2023.

*Based on information available as of 11/01/2022

Required Annual Medical Plan Notices

See the Medical Insurance Notices section on the Medical Insurance Notices webpage.

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