Dependent Care Spending Account

How a Dependent Care FSA Saves You Money

Dependent Care Spending Account contributions are deducted directly from your pay before federal, state, and city income taxes, as well as social security taxes. This tax-saving benefit can significantly reduce your eligible expenses.

You can benefit from a Dependent Care Flexible Spending Account if you:

• Have dependent child(ren) aged 12 or under. Dependent eligibility ends the day your child turns 13.
• Care for a disabled spouse or other disabled tax-qualified dependent who spends at least eight hours a day in your home.
• Require before and after school care.
• Incur expenses for babysitting, nanny services, daycare, nursery school, preschool, or summer day camp.

Annual Limits

Your election for the Dependent Care Spending Account remains effective for one year.

The maximum contribution for the plan year is $5,000, with a minimum of $200 to cover eligible dependent care expenses.

Enrollment Process

Each year you are required to make a new election for the following year. Year-end unused contributions will not roll over to the new plan year:

• Annual Enrollment: You must re-enroll each year for the current plan year by completing online enrollment. You decide how much of your salary to set aside on a pre-tax basis for eligible expenses.

Please Note: If you use the Dependent Care Spending Account, the IRS requires that you provide the name, address and Social Security or other tax identification number of your care provider.

Non-discrimination testing of this plan may require certain employees who enroll to be reimbursed any pre-tax dollars elected for the calendar year and to stop participation.

Year-end unused contributions will NOT roll over to the new plan year.

Accessing Your OPTUM Account

Visit Optum Financial to register your account. For help with your online OPTUM account call 888.339.3685 any time.

Additional Resources