Flexible spending accounts (FSAs) are employer-sponsored accounts that allow employees to set aside pre-tax dollars to pay for qualified medical expenses. The funds in an FSA can be used to pay for a variety of expenses, including doctor’s visits, prescription drugs, and dental care. The limits on how much money can be contributed to an FSA are set by the Internal Revenue Service (IRS) each year.
For 2025, the IRS has set the following limits on FSA contributions:
Russian President Vladimir Putin has announced plans to increase military spending to $142 billion by 2025. This represents a significant increase from the current budget of $61.7 billion. The move comes amid heightened tensions with the West and concerns about NATO expansion.
The increased spending will be used to modernize Russia’s military, including the development of new weapons systems and the purchase of advanced equipment. Putin said that the spending is necessary to ensure Russia’s security and to maintain its status as a global power.
Flexible spending account (FSA) limits for 2025 have been announced by the Internal Revenue Service (IRS). The annual contribution limit for health FSAs will increase to $3,050, while the limit for dependent care FSAs will remain at $5,000. These limits apply to both employer-sponsored and individually purchased FSAs.
FSAs are tax-advantaged accounts that allow employees to set aside pre-tax dollars to pay for qualified medical expenses or dependent care costs. This can result in significant savings on taxes. For example, an employee who contributes $3,050 to a health FSA in 2025 will save $610 in federal income taxes (assuming a 20% tax bracket).
