The IRS announced that the 2019 FSA contribution limit has been increased by $50.00, going from $2,650 (2018) to $2,700. The increased contribution limit affects health FSAs. Health FSAs may be used for a wide range of out-of-pocket healthcare expenses, including co-pays, deductibles, most dental and vision services, prescriptions, and more. Dependent Care FSA, or Dependent Care Assistance Plans, will stay at the $5,000 annual limit.
The UMC of Greater NJ does not offer an FSA for clergy of the local churches; entering an amount on Line 10 of the Clergy Compensation and Expense Report does not constitute an FSA plan. FSA payroll deductions must be held in a qualified FSA plan offered by your employer (local church). Detailed receipts are required for reimbursement of IRS qualified expenses.