Human Resources

Dependent Care FSA

Dependent Care Flexible Spending Accounts

Eligible employees may set aside up to $5,000 per year in a Dependent Care Flexible Spending Account (FSA) to pay for eligible dependent care expenses. To be reimbursable, you must incur eligible expenses between January 1 and December 31 of each year. You have until March 31 of the following year to submit your claims for reimbursement. You will forfeit any unspent funds at the end of each year.

Participants in the Dependent Care FSA must file claims online or on paper. There is no debit card option. Reimbursement is made by check or by direct deposit.

If an employee terminates their employment with the College, only services rendered prior to the employee's last day may be eligible for reimbursement under the reimbursement plans. Any unused money will be forfeited.

 

On Demand Webinar:

DC FSA: Turn Caregiving into Tax Savings

Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request

Comments