With a Dependent Care Flexible Spending Account, you can set aside part of your pay on a pre-tax basis to pay for eligible dependent care expenses like child care, babysitters and adult day care.

Eligible dependents must be claimed as an exemption on your tax return. You may allocate up to $5,000 per tax year for reimbursement of dependent care services. If you are married and file a separate tax return, the limit is $2,500.

Highlights

• Eligible dependents must be children under age 13 or an adult dependent incapable of self care.
• Contributions are not loaded upfront. Funds become available as contributions are made to your account.
• Receipts are not required for reimbursement, but be sure to save them for tax purposes.
• Balances will be forfeited at the end of the runoff or grace period.