If you participate in the Health Care FSA, your minimum annual contribution is $600 and your maximum is $2,650 through December 31, 2019. While there are no minimums for 2020, the maximum annual contribution is $2,700.
If you are enrolled in an Assurant Health Plan, review the FSA Benefits page to see the difference between a General Purpose FSA and a Limited Purpose FSA.
Dependent Day Care FSA
If you participate in the Dependent Day Care FSA, your minimum annual contribution is $600 through December 31, 2019. While there is no minimum annual contribution for 2020, the maximum annual contribution remains the same at $5,000 (including any pre-tax contributions your spouse makes to a Dependent Day Care FSA through his/her employer). If you are married and file separate tax returns, the maximum annual contribution is $2,500.
If your 2019 W-2 earnings with Assurant are expected to reach $125,000 or more, please be aware that your election may be reduced early next year due to IRS regulations. The regulations limit contributions from employees earning over a certain threshold to ensure that they do not receive a disproportionate tax benefit. Consult with a tax advisor for more information.