Dependent Day Care Accounts (Dependent Care FSA)
With a Dependent Care FSA, employees can set aside part of their pay on a pre-tax basis to pay for eligible dependent care expenses, such as:
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This account allows pre-tax dollars to be used for day care expenses for a qualified dependent/child while an employee or their spouse is:
- Working
- Seeking Employment
- Attending school as a full time student (for at least five months of the year)
Eligible dependents must be claimed as an exemption on tax returns. Allocations may be made up to $5,000 per tax year for reimbursement of dependent day care services ($2,500 if married and file a separate tax return).
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