New Limits for 2020
| 2019 | 2020 | |
| 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.