Financial

Dependent Care FSA

The Dependent Care Flexible Spending Account (FSA) lets you set aside money to pay for eligible dependent day care expenses – before taxes are taken out of your paycheck.

Regular associates who are scheduled to work 20 or more standard hours per week may enroll. You may enroll as a new hire, if you experience an allowed qualifying life event, or during Open Enrollment only each calendar year. You must re-enroll each year.

How the Plan Works - See Publication 503 for IRS details about eligible expenses

Pre-tax Dependent Care Flexible Spending Account

The Dependent Care FSA allows you to pay for eligible day care, summer day camp, after-school, or home care expenses for qualified dependents, including children under age 13 (or older, if disabled).

Unused Balances

You have 90 days from the end of the plan year to submit for eligible FSA expenses incurred through December 31 of the prior calendar year (for which you had an active annual DCFSA election).
Unused balances are forfeited if not utilized by the end of each calendar year

Contributions & Limits

You may contribute from $500 to $5,000 (maximum contribution) to the Dependent Care FSA, or up to $2,500 if you and your spouse both work and file taxes separately.

Note about Highly Compensated Employees

Dependent Day Care FSAs are subject to IRS regulations that limit the amount that highly compensated employees (HCEs) may contribute. You will be notified toward the beginning of each calendar year if you are an HCE affected by this IRS limitation.

Additional Spending Accounts Resources

Benefit Resources and Links

Lookup vendor contact information for specific benefit plans.

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Health Savings Account

Click the link below for more information on the Health Savings Account (HSA).

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Health Care & LPFSA

Click the link below for more information on the Health Care FSA.

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HCFSA vs. HSA

Click the link below for more information on the differences between the HCFSA and HSA plans.

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