You can cover the following individuals under your DCFSA:
To access your DCFSA, click here.
Your DCFSA funds can be used to pay for dependent day care expenses. Eligible expenses include:
Refer to IRS Publication 503 for a complete list of qualified dependent day care expenses.
You can contribute up to $5,000 a year ($2,500 maximum if you’re married and file separate tax returns).
The DCFSA is a tax-advantaged savings account designed to help you pay for qualified care expenses for an eligible dependent, such as daycare.
The Health Care FSA is a tax-advantaged savings account designed to help you pay for qualified medical, prescription, dental, and vision expenses for you and your dependents. Both are governed by IRS rules.
No, the DCFSA does not cover any medical, prescription drug, dental, or vision expenses. It only covers eligible dependent day care expenses.
You can use your prior year’s expenses as a base to help you calculate your future expenses. The DCFSA has a “use it or lose it” rule, so any funds you don’t use by the end of the year will be forfeited.
DCFSA contributions cannot be changed during the plan year unless you experience a qualified life event, like having a baby or getting married.
They're available for use as they are deposited into your account.
You must incur eligible expenses no later than September 15 and submit for reimbursement by December 31 following the end of the prior plan year (June 30), otherwise any remaining balance will be forfeited.