{"id":4385,"date":"2022-12-15T08:39:41","date_gmt":"2022-12-15T14:39:41","guid":{"rendered":"https:\/\/www.employco.com\/blog\/?p=4385"},"modified":"2022-12-15T08:45:16","modified_gmt":"2022-12-15T14:45:16","slug":"hr-newsletter-new-benefit-plan-limits-for-2023","status":"publish","type":"post","link":"https:\/\/www.employco.com\/blog\/2022\/12\/15\/hr-newsletter-new-benefit-plan-limits-for-2023\/","title":{"rendered":"HR Newsletter: New Benefit Plan Limits for 2023"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.employco.com\/images\/newsletter\/HR\/Blog\/August2021_Benefits.jpg\" \/><\/p>\n<p>Many benefit plan limits have changed for the new calendar year. Here are some limits to review for 2023:<\/p>\n<p><strong>401(k) Limits<\/strong><\/p>\n<ul>\n<li>Pre-tax contributions: $22,500 (up $2,000 from 2022)<\/li>\n<li>Catch-up contributions: $7,500 (up $1,000 from 2022)<\/li>\n<\/ul>\n<p><!--more--><strong>Flexible Spending Account (FSA) Limits<\/strong><\/p>\n<ul>\n<li>Health FSA contributions: $3,050 (up $200 from 2022)<\/li>\n<li>Health FSA carry-over: $610 (up $40 from 2022)<\/li>\n<li>Dependent Care FSA contributions: $5,000 (no change from 2022)<\/li>\n<\/ul>\n<p><strong>Health Savings Account (HSA) Limits<\/strong><\/p>\n<ul>\n<li>Pre-tax contributions: Single coverage: $3,850 (up $200 from 2022)<\/li>\n<li>Family coverage: $7,750 (up $450 from 2022)<\/li>\n<li>Catch-up contributions: $1,000 (no change from 2022)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Many benefit plan limits have changed for the new calendar year. Here are some limits to review for 2023: 401(k) Limits Pre-tax contributions: $22,500 (up $2,000 from 2022) Catch-up contributions: $7,500 (up $1,000 from 2022)<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31],"tags":[],"class_list":["post-4385","post","type-post","status-publish","format-standard","hentry","category-hr-newsletter"],"featured_image_src":null,"author_info":{"display_name":"Employco USA","author_link":"https:\/\/www.employco.com\/blog\/author\/employcousa\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>HR Newsletter: New Benefit Plan Limits for 2023 - Employco Blog<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.employco.com\/blog\/2022\/12\/15\/hr-newsletter-new-benefit-plan-limits-for-2023\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"HR Newsletter: New Benefit Plan Limits for 2023 - Employco Blog\" \/>\r\n<meta property=\"og:description\" content=\"Many benefit plan limits have changed for the new calendar year. 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Minimum Wage Changes \u2013 Almost half of the states have announced new minimum wage rates for 2021. Link to overview: 2021 State Minimum Wage Rates Benefit Plan Limits \u2013 Several plan\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"Legal and Compliance Updates 2021","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/November2020_Legal-and-Compliance-Updates-2021.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/November2020_Legal-and-Compliance-Updates-2021.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/November2020_Legal-and-Compliance-Updates-2021.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/November2020_Legal-and-Compliance-Updates-2021.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/November2020_Legal-and-Compliance-Updates-2021.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":5180,"url":"https:\/\/www.employco.com\/blog\/2023\/12\/12\/hr-chat-w-employco-usa-irs-announces-2024-annual-limits-for-benefits\/","url_meta":{"origin":4385,"position":1},"title":"HR Chat w\/Employco USA: IRS Announces 2024 Annual Limits for Benefits","author":"Employco USA","date":"December 12, 2023","format":false,"excerpt":"https:\/\/youtu.be\/xk52enKQGhA Join Rob and Jason in this HR Chat as they delve into the latest updates from the IRS regarding 2024 annual limits for benefits. They cover new thresholds effective January 1st for FSA plans, 401(k) contributions, and commuter benefits. They also highlight distinctions between FSA and HSA plans, healthcare\u2026","rel":"","context":"In &quot;HR Chat&quot;","block_context":{"text":"HR Chat","link":"https:\/\/www.employco.com\/blog\/category\/human-resources\/hr-chat\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/xk52enKQGhA\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":5586,"url":"https:\/\/www.employco.com\/blog\/2024\/11\/20\/hr-newsletter-new-2025-benefit-plan-limits\/","url_meta":{"origin":4385,"position":2},"title":"HR Newsletter: New 2025 Benefit Plan Limits","author":"Employco USA","date":"November 20, 2024","format":false,"excerpt":"Many benefit plan limits have changed for the new calendar year. Plans such as 401(k), FSA, and HSA all have new maximums set for 2025. Click the following link to access our Infographic \u2013 2025 Limits to Know.","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3685,"url":"https:\/\/www.employco.com\/blog\/2021\/11\/15\/hr-newsletter-new-401k-limits-for-2022\/","url_meta":{"origin":4385,"position":3},"title":"HR Newsletter: New 401(k) Limits for 2022","author":"Employco USA","date":"November 15, 2021","format":false,"excerpt":"On Nov. 4, 2021, the Internal Revenue Service (IRS) announced new caps for employee and company 401(k) contributions in 2022: 2021 2022 Maximum employee elective deferral (age 49 and younger) $19,500 $20,500 Employee catch-up contribution (age 50 or older) $6,500 $6,500 Maximum employee elective deferral plus catch-up $26,000 $27,000 The\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"IRS","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/November2021_IRS.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":4685,"url":"https:\/\/www.employco.com\/blog\/2023\/06\/15\/hr-newsletter-new-hsa-limits-for-2024\/","url_meta":{"origin":4385,"position":4},"title":"HR Newsletter: New HSA Limits for 2024","author":"Employco USA","date":"June 15, 2023","format":false,"excerpt":"On May 16, 2023, the IRS released Revenue Procedure 2023-23 to provide the inflation-adjusted limits for health savings accounts (HSAs) and high deductible health plans (HDHPs) for 2024. The IRS is required to publish these limits by June 1 of each year. These limits include: 2024 2023 Contribution Limit (Individual)\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"New HSA Limits for 2024","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/June2023_HSA.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/June2023_HSA.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/June2023_HSA.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/June2023_HSA.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/June2023_HSA.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":4439,"url":"https:\/\/www.employco.com\/blog\/2023\/01\/16\/hr-newsletter-secure-2-0-becomes-law-retirement-plans\/","url_meta":{"origin":4385,"position":5},"title":"HR Newsletter: \u201cSECURE 2.0\u201d Becomes Law (Retirement Plans)","author":"Employco USA","date":"January 16, 2023","format":false,"excerpt":"On Dec. 29, 2022, President Biden signed the Consolidated Appropriations Act of 2023, an omnibus bill that includes the \u201cSECURE 2.0\u201d legislation. It is referred to as such because it builds on the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Key SECURE 2.0 provisions include: Expanding\u2026","rel":"","context":"In &quot;HR Newsletter&quot;","block_context":{"text":"HR Newsletter","link":"https:\/\/www.employco.com\/blog\/category\/employco-in-the-news\/hr-newsletter\/"},"img":{"alt_text":"HR Newsletter: \u201cSECURE 2.0\u201d Becomes Law (Retirement Plans)","src":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_Secure20.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_Secure20.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_Secure20.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_Secure20.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.employco.com\/images\/newsletter\/HR\/Blog\/January2023_Secure20.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/comments?post=4385"}],"version-history":[{"count":3,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4385\/revisions"}],"predecessor-version":[{"id":4388,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/posts\/4385\/revisions\/4388"}],"wp:attachment":[{"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/media?parent=4385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/categories?post=4385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.employco.com\/blog\/wp-json\/wp\/v2\/tags?post=4385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}