On October 19th, the IRS released Revenue Procedure 2017-58 which increases the FSA dollar limit on employee salary reduction contributions to $2,650 for taxable years beginning in 2018. (The limit for 2017 is $2,600.) An employer may continue to impose its own health FSA limit, as long as it does not exceed the ACA’s maximum limit for the plan year. This means that an employer may continue to use the 2017 maximum limit for the 2018 plan year if it wishes to do so.
If SelectAccount administers your FSA, you will receive a formal communication from them regarding the increased maximum and how they will handle 2018 renewals that have already been submitted.