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FSAFEDS Increasing Maximum Contribution in 2015

OPM has announced that the Federal Flexible Spending Account Program (FSAFEDS) is increasing the maximum contribution to $2,550 for 2015.

OPM has announced that the Federal Flexible Spending Account Program (FSAFEDS) is increasing the maximum contribution to $2,550 for 2015. The announcement is included below.

Please take notice that the Federal Flexible Spending Account Program (FSAFEDS) is increasing the maximum contribution to health care and limited expense health care flexible spending accounts for the 2015 benefit year. The new maximum contribution will increase by $50 to $2,550 due to inflation, as authorized by the IRS.

This change will occur alongside two other FSAFEDS changes for the 2015 benefit year: the adoption of carryover for health care and limited expense accounts, and the reduced minimum contribution for all types of accounts.

With these changes, FSAFEDS is better and more accessible than ever. We hope you will spread the word of these changes and the money-saving benefits of FSAFEDS to your employees.

For more information about FSAFEDS, please visit www.opm.gov/fsa.

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Ian Smith is one of the co-founders of FedSmith.com. He enjoys writing about current topics that affect the federal workforce.