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Flexible Spending Account (FSA)
DEPENDENT CARE FSA ACCOUNT
This plan allows you to pay for eligible out-of-pocket dependent care expenses with pre-tax dollars. 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 considered your tax dependent and are incapable
of self-care. It is important to note that you can access money only after it is placed into your dependent care FSA
account.
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.
Below are more examples of eligible dependent care expenses:
•
After-school care
•
Day camps
•
Care for a disabled individual who is incapable of self-care in order for participant and spouse (if
applicable) to work
•
Child daycare
•
Employer-provided on-site daycare (cost is reimbursable if payment is payroll deducted)
•
In-home care
•
Nanny/au pair
•
Tuition for nursery or pre-school
TRANSPORTATION PLAN
A Transportation Plan is an employer-sponsored benefit program that allows you to set aside pre-tax funds in
separate accounts to pay for qualified workplace mass transit and parking expenses.
If you are planning to use the
SMART
train for your commute, you will want to consider setting up an account.
Monthly limits are set by the IRS. You can put up to $255 pre-tax dollars per month into both the transportation
and parking accounts and can makes contribution changes monthly. Your monthly balance is carried forward and
you can make adjustments to your contribution, enroll or terminate plan participation at any time during the plan
year.
As with the Flexible Spending Accounts that are also administered by TDS, you have access to the funds through a
debit card or manual reimbursement claim form.
Other TDS Programs
Here are some other valuable programs that you may eligible to participate in:
Call 1-800-863-9019 and speak with a Benefits Counselor.
They will answer your questions, review your options and
enroll you right over the phone, it's that easy!
The Benefit Counselors are available Monday - Thursday 11
am to 7:30 pm and Saturday 8:30 am to 12:00 pm. Call
them when it's convenient for YOU!
Enrollment in the plan is optional.