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Flexible Spending Accounts (FSA)
DEPENDENT CARE FSA
Eligible expenses may include daycare centers, in-home child care, and before or after school
care for your dependent children under age 13. Other individuals may qualify if they are your tax
dependent and are incapable of self-care.
All caregivers must have a tax ID or Social Security number. This information must be included
on your federal tax return. If you use the dependent care reimbursement account, the IRS will
not allow you to claim a dependent care credit for reimbursed expenses. Consult your tax advisor
to determine whether you should enroll in this plan. You can set aside up to $5,000 per
household for eligible dependent care expenses for the year.
ELIGIBLE DEPENDENTS INCLUDE:
Dependent child under age 13 (as defined by the IRS).
Your legal spouse/registered domestic partner, or other dependent, who is not mentally or
physically capable to care for themselves, and lives with you for more than half of the year.
The 2018 Dependent Care Spending Account can only be used through the end of the Plan Year
(December 31, 2018), but you have until March 31, 2019 to submit claims for expenses incurred
prior to the end of the Plan Year. Please note that it is important that you carefully consider and
choose the right annual election amount for you. Any unused balance remaining in your 2018
Dependent Care Spending Account after March 31, 2019 will be forfeited to the Plan.
TIPS FOR YOUR DEPENDENT CARE FSA…
Submitting for reimbursement:
o
Payflex Mobile app
: Manage your account, view alerts, snap a photo of your receipts to
submit claims. App is available for iPhone and Android.
o
Payflex online
: Scan and upload receipts and submit claims via the online portal.
Other requirements
:
To use funds, you must be working. If you’re married, your spouse must
be working, looking for work, a full-time student or incapable of self-care.
Mid Year Changes: You can change your contribution if you have a qualifying change in status,
or a change in provider cost (e.g. marriage, employment status, # of tax dependents, etc.).
Dependent Care FSA
2018 Limit:
$5,000 per household
Dates to incur claims:
January 1, 2018 –
December 31, 2018
Last date to submit for
reimbursement:
March 31, 2019