What is a Dependent Care FSA? • A Dependent Care FSA is an account you can put money into that allows you to reimburse yourself for qualified dependent care expenses, such as: • Daycare • Preschool • Adult daycare • After school programs • Day camp • Maximum Election –$5,000 per plan year • There is a $5,000 maximum per family per calendar year • If you’re married and file separate tax returns, the maximum is $2,500 • Funds available for reimbursement are up to the amount deducted from payroll and posted to your account year to date • 90 day run-out – You can submit any claims incurred within the plan year and for 90 days after the plan year ends • There is a provision which allows expenses incurred during the 2.5 month grace period after the plan year to be eligible to be applied to your prior year balance (per IRS rules) • Action required:If you wish to continue with your dependent care FSA you must re-enroll each year. 27