Save More on Taxes — IRS raises 401(k), Health Care FSA and CSA Contribution Limits

The IRS raised the annual amounts you can contribute pre-tax to the following tax-advantaged benefits in 2023:

  • 401(k) —
    • Up $2,000 from $20,500 to $22,500 if you are under age 50
    • Up $3,000 from $27,000 to $30,000 if you are age 50 or older
  • Health Care FSA — up $200 from $2,850 to $3,050
  • Commuter Spending Account — up $20 from $280 to $300