2021 contribution limits

2022 Employee Contribution and Benefit Limits

The Internal Revenue Service (IRS) recently announced the cost-of-living changes to contribution and benefit limits for a variety of employer sponsored plans in 2022. Most dollar amount limits for 2021 remain the same for 2022, with a handful of amounts seeing slight increases.

The table below shows the contribution and benefit limits for certain plans in 2021 and 2022.

HEALTH AND WELFARE PLAN LIMITS

FSA

 2021   2022
Health FSA salary reduction $2,750 $2,850
Health FSA carryover $550 $570
Dependent Care FSA – married filing jointly or single parent $5,000 $5,000
Dependent Care FSA – married filing separately $2,500 $2,500
HRA 2021 2022
Excepted Benefit HRA $1,800 $1,800
Qualified Small Employer HRA (QSEHRA) – self only $5,300 $5,450
Qualified Small Employer HRA (QSEHRA) – family $10,700 $11,050
HDHP 2021 2022
HDHP: max. annual out-of-pocket (self only) $7,000 $7,050
HDHP: max. annual out-of-pocket (family) $14,000 $14,100
HDHP: min. annual deductible (self only) $1,400 $1,400
HDHP: min. annual deductible (family) $2,800 $2,800
HSA 2021 2022
HSA: annual contributions (self only) $3,600 $3,650
HSA: annual contributions (family) $7,200 $7,300
HSA: catch-up contributions (age 55+) $1,000 $1,000
Commuter 2021 2022
Qualified Transit and Parking – monthly $270 $280

Also listed below are the Retirement Plan Limits for 2021 and 2022.

RETIREMENT PLAN LIMITS 2021 2022
401(k), 403(b) & 457(b) contributions $19,500 $20,500
Catch-up contributions (age 50+) $6,500 $6,500
Defined contribution plan (annual contributions) $58,000 $61,000

 

Complete details on these and other cost-of-living adjustments can be viewed in IRS Revenue Procedure 2021-45 and IRS Notice 2021-61.

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