Last week, the Internal Revenue Service (IRS) released the long-awaited contribution limitations for 2019. These amounts are adjusted annually for inflation.
The changes for 2019 are as follows:
The contribution limit for health savings accounts (HSAs) was previously announced and has increased from $3,450 for single only and $6,900 for family coverage in 2018 to $3,500 for single only and $7,000 for family coverage in 2019.
The contribution limit for dependent care accounts (DCAs) are fixed as $5,000 per household or, if married and filing separately, $2,500 per taxpayer.
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