The FSA limits are the highest pre-tax contributions that employees and employers can make to a Flexible Spending Account (FSA). Contribution limits for FSAs are determined by the Internal Revenue Service (IRS) and are generally increased annually to account for cost-of-living adjustments. You must select how much you want to put into your FSA when you sign up for one at the start of your employer's plan year. Even if you haven't yet contributed the total amount to the account, the entire annual FSA amount you selected is available on the first day of starting your plan. The contribution limits for Limited Purpose and Health Care FSAs are identical. However, a different contribution limit applies to Dependent Care FSA.