IRS 2023 Employee Benefit Plan Limits
The table below compares the applicable dollar limits for certain employee benefit programs and the Social Security wage base for 2022 and 2023.*
| Health Flexible Spending Accounts | 2023 | 2022 |
| Maximum salary reduction limit | $3,050 | $2,850 |
| Health FSA Carryover Limit | $610 | $570 |
| Dependent Care Flexible Spending Accounts± | 2023 | 2022 |
| If employee is married and filing a joint return or if the employee is a single parent |
$5,000 | $5,000 |
| If employee is married but filing separately | $2,500 | $2,500 |
| 2023 | 2022 | |
| Excepted Benefit Health Reimbursement Arrangements | $1,950 | $1,800 |
|
Qualified Transportation Fringe Benefit and Qualified Parking (monthly limit) |
$300 | $280 |
| Adoption Assistance Exclusion | $15,950 | $14,890 |
|
Educational Assistance Highly compensated employee threshold |
$5,250 $150,000 |
$5,250 $135,000 |
| High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA) | ||
| 2023 | 2022 | |
| HDHP — Maximum annual out-of-pocket limit (excluding premiums): | ||
| Self-only coverage | $7,500 | $7,050 |
| Family coverage | $15,000 | $14,100 |
| HDHP — Minimum annual deductible: | ||
| Self-only coverage | $1,500 | $1,400 |
| Family coverage | $3,000 | $2,800 |
| HSA — Annual contribution limit: | ||
| (Employee + Employer Contributions Combined) | ||
| Self-only coverage | $3,850 | $3,650 |
| Family coverage | $7,750 | $7,300 |
| Catch-up contributions (age 55 or older)± | $1,000 | $1,000 |
|
ACA In-Network Out-Of-Pocket Limits For Non-Grandfathered Plan Note: This is different than the HDHP Maximum out-of-pocket limit described above |
||
| Self-only coverage | $9,100 | $8,700 |
| Family coverage | $18,200 | $17,400 |
| Retirement Plan Limits | 2023 | 2022 |
| Annual compensation limit | $330,000 | $305,000 |
| 401(k), 403(b) and 457 plan contributions | $22,500 | $20,500 |
| 401(k), 403(b) and 457 plan catch-up contributions (if age 50 or older) | $7,500 | $6,500 |
| Highly compensated employee threshold | $150,000 | $135,000 |
| Key employee officer compensation threshold | $215,000 | $200,000 |
| Defined benefit plan annual benefit and accrual limit | $265,000 | $245,000 |
| Defined contribution plan annual contribution limit | $66,000 | $61,000 |
| Social Security Taxable Wage Base | $160,200 | $147,000 |
* The dollar limits are generally applied on a calendar year basis; however, certain dollar limits are applied on a plan-year, tax-year, or limitation-year basis.
± Not indexed for cost-of-living adjustments.