Page 14 - 2018-19 MYNEXUS Benefits Guide
P. 14
2018–19 BENEFITS ENROLLMENT
Eligible Expenses DEPENDENT CARE
Dependent Care FSA FLEXIBLE SPENDING
Cost of child or adult
daycare* ACCOUNT (FSA)
Nursery school
What is a Dependent Care Flexible Spending
Preschool (excluding Account?
kindergarten)
A dependent care flexible spending account is an account which allows you to
Before/after school care set aside pre-tax dollars from your paycheck to cover qualified expenses you
Summer day camp (if both would normally pay out of your pocket with after-tax dollars.
parents work)
* Eligible dependent—tax dependent Dependent Care FSA
child under age 13. Tax dependent
spouse, parent, or child unable to You are eligible to participate in the dependent care FSA—whether or not
care for themselves. you elect any other benefits. The dependent care FSA allows you to set aside
pre-tax funds to help pay for expenses associated with caring for children or
elderly dependents. Reimbursement from your dependent care FSA is limited
to the amount which has been deducted from your paycheck and deposited
into your dependent care account at the time the payment or reimbursement
is requested. The dependent care FSA is administered by WageWorks. Visit
www.wageworks.com for more information.
With the dependent care FSA, you are allowed to set aside up to $5,000 to
pay for child or elder care expenses on a pre-tax basis, $2,500 if married
and filing separate tax returns
Eligible dependents include children younger than the age of 13 and tax
dependents of any age who are incapable of caring for themselves
Expenses are reimbursable as long as the provider is not anyone
considered your dependent for income tax purposes
In order to be reimbursed, you must provide the tax identification
number or Social Security Number of the party providing care
Accounts may be managed online or via a mobile app
You may arrange for convenient, direct payments to providers or
reimburse yourself for payments made to the provider
14
Eligible Expenses DEPENDENT CARE
Dependent Care FSA FLEXIBLE SPENDING
Cost of child or adult
daycare* ACCOUNT (FSA)
Nursery school
What is a Dependent Care Flexible Spending
Preschool (excluding Account?
kindergarten)
A dependent care flexible spending account is an account which allows you to
Before/after school care set aside pre-tax dollars from your paycheck to cover qualified expenses you
Summer day camp (if both would normally pay out of your pocket with after-tax dollars.
parents work)
* Eligible dependent—tax dependent Dependent Care FSA
child under age 13. Tax dependent
spouse, parent, or child unable to You are eligible to participate in the dependent care FSA—whether or not
care for themselves. you elect any other benefits. The dependent care FSA allows you to set aside
pre-tax funds to help pay for expenses associated with caring for children or
elderly dependents. Reimbursement from your dependent care FSA is limited
to the amount which has been deducted from your paycheck and deposited
into your dependent care account at the time the payment or reimbursement
is requested. The dependent care FSA is administered by WageWorks. Visit
www.wageworks.com for more information.
With the dependent care FSA, you are allowed to set aside up to $5,000 to
pay for child or elder care expenses on a pre-tax basis, $2,500 if married
and filing separate tax returns
Eligible dependents include children younger than the age of 13 and tax
dependents of any age who are incapable of caring for themselves
Expenses are reimbursable as long as the provider is not anyone
considered your dependent for income tax purposes
In order to be reimbursed, you must provide the tax identification
number or Social Security Number of the party providing care
Accounts may be managed online or via a mobile app
You may arrange for convenient, direct payments to providers or
reimburse yourself for payments made to the provider
14
