What is a Dependent Care FSA?
A Dependent Care Flexible Spending Account (DC FSA) can help employees save money on their child care expenses. It works by employees setting aside money in a DC FSA account before paying taxes on it.
Take Control of Your Dependent Care Expenses
Funds in a DC FSA can be used to pay for day care and general purpose day camps for dependents under the age of 13. Funds may also be used to pay for adult day care services for dependent adults who are unable to care for themselves (if they live with the employee for at least eight hours a day).
Maximum Contribution (2023)
- $5,000 per year for married couples filing joint federal taxes or single caretakers
- $2,500 for married couples filing separate federal taxes
Eligible Expenses
- Qualified child care expenses for dependents under the age of 13
- Adult day care services for dependent adults who are unable to care for themselves and live with the employee at least eight hours a day
- The employee will be reimbursed for eligible expenses as they are incurred and as funds are deposited into his/her account.
- Funds may not be used to pay for overnight camps, care provided by a dependent, spouse or child under the age of 19, and care provided while the employee is not at work.
Why Surency?
We understand employees may be hesitant to set aside funds pre-tax to use at a later date for approved expenses. We’ve mapped out every aspect of the consumer experience down to the smallest detail to ensure employees understand the benefit — guaranteeing a positive experience for both employees and employer.
