New Limits for 2020

20192020
Social Security Wage Base$132,900.00$137,700.00
Flexible Savings Account
Health FSA Limit$2,700.00$2,750.00
Dependent Care FSA$5,000.00$5,000.00
HSA – Health Savings Account
Individual$3,500.00$3,550.00
Family$7,000.00$7,100.00
Catch-up Contribution (age 55+)$1,000.00$1,000.00
Individual HDHP Out-Of-Pocket Max$6,750.00$6,900.00
Family HDHP Out-Of-Pocket Max$13,500.00$13,800.00
Mileage Rates (Business Miles Driven)$0.58$0.575
Transportation Benefits
Parking Allowance-Per Month$265.00$270.00
Transit Allowance-Per Month$265.00$270.00
Qualified Small Employer HRA (QSEHRA)
Single-Monthly$429.00$438.00
Family-Monthly$870.00$883.00
Single-Annual$5,150.00$5,250.00
Family-Annual$10,450.00$10,600.00
401(k), 403(b), 457 Plan Limits
Maximum employee elective deferral$19,000.00$19,500.00
Employee catch-up contribution (age 50 + by year-end)$6,000.00$6,500.00
Employee compensation limit for calculating contributions$280,000.00$285,000.00
IRA Contributions
Traditional IRA$6,000.00$6,000.00
ROTH IRA$6,000.00$6,000.00
Employee catch-up contribution (age 50 + by year-end)$1,000.00$1,000.00

The catch-up contribution limits for participants age 50 or older apply from the start of the year for anyone turning 50 at any time during the year.