Stone colonnade and stairs detail. Classical pillars row in a building facade

IRS announces 2021 contribution and benefit limits

The IRS has announced its dollar limitations affecting qualified retirement, medical Flexible Spending Accounts (FSAs) and Healthcare Savings Accounts (HSAs) for 2021. 

  • The contribution limit for retirement plans remains the same at $19,500.
  • The catch-up contribution limit on the retirement plans for employees aged 50 and over remains the same at $6,500.
  • The Medical Flexible Spending Account (FSA) contribution limit remains the same at $2,750.
  • The Healthcare Savings Account (HSA) contribution limits will increase to $3,600 for single and $7,200 for family. 

If you wish to increase your annual contribution to the FSA maximum amount of $2,750 or to the HSA maximum amounts for 2021, you will need to make a new election through HCM during open enrollment. Retirement contributions can be adjusted at any time during the year. If you wish to make an adjustment to your Supplemental Retirement Account (SRA) contribution, access Retirement Forms on the Human Resources website. Select “Retirement” to see the list of relevant forms and select the Supplemental Retirement Account Form for your specific retirement plan. 

For more information, visit the 2021 Benelect open enrollment website.

As a reminder, Medical Mutual (MMO) will be the university’s sole insurance plan administrator for the 2021 calendar year. To assist faculty and staff who will be newly enrolling in Medical Mutual for 2021, MMO has set up a dedicated website for CWRU employees. In addition, a dedicated customer service number (877.480.3110) is available to assist employees who will be new to Medical Mutual. Given this is a significant change for those currently with Anthem, the university and Medical Mutual will host open information sessions later this month and throughout open enrollment. Registration information will be available in The Daily and on the Human Resources website.

For questions, email AskHR@case.edu or call the HR Service Center at 216.368.6964.