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P. 42
2017 Benefits Enrollment
Dependent Care Notes To Understand for Reimbursement Accounts
Flexible Spending 1. You should also keep in mind expenses incurred BEFORE
Account participation begins are NOT ELIGIBLE.
The DCRA plan allows you to 2. Expenses incurred for a Healthcare FSA AFTER participation
make pretax contributions from ends are NOT ELIGIBLE (for a Dependent Care FSA, you can
your pay to an account designated submit claims incurred through the remainder of the year in which
to reimburse you for eligible participation ended).
dependent care expenses such as 3. “Use it or lose it”—carefully review your personal situation
child day care, adult dependent before enrolling in Healthcare or Dependent Care accounts. The
day care, dependent care centers, IRS requires you forfeit any unused money remaining in your
and preschool expenses. Your reimbursement accounts at the end of the calendar year grace period.
contributions are deducted from
your pay before federal income
taxes, Social Security taxes and, in
most states, before state income
taxes are withheld.
You may contribute $5,000
annually (or up to $2,500 if
married and iling separate tax
returns). There may be other
circumstances where your
contributions are limited.
Keep in mind the Dependent Care
Flexible Spending Account is for
dependent day care expenses for
your eligible dependents whose
care you must pay so you and your
spouse can work or look for work.
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Dependent Care Notes To Understand for Reimbursement Accounts
Flexible Spending 1. You should also keep in mind expenses incurred BEFORE
Account participation begins are NOT ELIGIBLE.
The DCRA plan allows you to 2. Expenses incurred for a Healthcare FSA AFTER participation
make pretax contributions from ends are NOT ELIGIBLE (for a Dependent Care FSA, you can
your pay to an account designated submit claims incurred through the remainder of the year in which
to reimburse you for eligible participation ended).
dependent care expenses such as 3. “Use it or lose it”—carefully review your personal situation
child day care, adult dependent before enrolling in Healthcare or Dependent Care accounts. The
day care, dependent care centers, IRS requires you forfeit any unused money remaining in your
and preschool expenses. Your reimbursement accounts at the end of the calendar year grace period.
contributions are deducted from
your pay before federal income
taxes, Social Security taxes and, in
most states, before state income
taxes are withheld.
You may contribute $5,000
annually (or up to $2,500 if
married and iling separate tax
returns). There may be other
circumstances where your
contributions are limited.
Keep in mind the Dependent Care
Flexible Spending Account is for
dependent day care expenses for
your eligible dependents whose
care you must pay so you and your
spouse can work or look for work.
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