Overview
Save money on dependent care expenses by using a tax-advantaged FSA. The money you contribute to this account comes from your paycheck before it is taxed, and you withdraw it tax-free when you pay for eligible expenses.
Pairs with any (or no) medical plan.
- $5,000 a year to help cover your qualified dependent care expenses, such as child daycare or elder care. For a complete list of eligible expenses, refer to IRS Publication 503.
- Get reimbursed by submitting a claim.
- Eligible expenses include child care for children up to age 13 and care for dependent elders.
- In order to contribute, you must earn less than the IRS limit ($125,000 in 2021). Note: The limit is adjusted every year.
Please note that unused money in a Dependent Care FSA does not carry over at the end of each year — you use it or lose it.