Next year’s dollar limits that apply to employer-provided transportation plans will stay the same as this year’s, the IRS has decided.
The value of excludable benefits under a qualified commuter benefit plan will be limited to $120 a month, and the value of qualified parking benefits will be limited to $230, the IRS said this week.
Together with the 2010 dollar limits for retirement plans announced last month — all of which remain the same as this year’s — virtually all of the IRS’ annually indexed limits remain unchanged. There are just a couple of exceptions. For high-deductible health plans, the out-of-pocket expense limits will go up $50, to $4,050 for single coverage and $7,400 for family coverage. In addition, the maximum excludable amount under an employer-provided adoption assistance program in 2010 will rise $20, to $12,170.
The transportation and adoption assistance limits were set in IRS Revenue Procedure 2009-50, which also includes the 2010 personal exemption and standard deduction amounts, along with the 2010 federal income tax tables.
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3 Comment(s)
Posted by: Melanie R | November 13, 2009 9:10 AM
The HDHP out-of-pocket limits in the article are for the Archer MSA. I found the same errors for the commuter and HSA OOP noted by previous commentators.
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Posted by: Jan L | November 11, 2009 7:54 AM
The out-of-pocket limits for an HSA qualifying high-deductible health plan are not correct either.
Out-of-pocket maximum for single is $5,950 and family is $11,900
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Posted by: Thomas S | November 11, 2009 6:59 AM
The commuter benefit is $230 for 2010. The IRS extended the limit that was raised from 120 - 230 under ARRA.
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