How much can and should I contribute to an FSA?
The 2020 plan year maximum contribution for a Health Care FSA is $2,750 per year. The maximum contribution for a Dependent Care FSA is $5,000, up to the maximum family amount for which you qualify.
The minimum amount per pay-period you may contribute to each account is $2.00. The total amount you decide to elect for the plan year is called your Annual Goal; you may not change your Annual Goal once FSA Open Enrollment ends, unless you have had a qualifying life event.
It is important to only contribute as much as you can reasonably expect to spend on out-of-pocket health care or dependent care expenses (based on the FSA you select) for the coming year. Unspent funds remaining in accounts at the end of the Dependent Care FSA Grace Period (ending March 15th of the following year) will be forfeited. View the Health Care FSA with Carryover FAQs for more information on how to avoid forfeiture for Health Care FSAs.