Page 16 - American Advisors Group Benefit Guide 2_NonCA

EMPLOYEE BENEFITS 16

DEPENDENT CARE FSA

(Administered through Cigna)
A Dependent Care FSA lets you use pretax dollars to pay for eligible expenses related to the care for your child, disabled spouse, elderly
parent, or other dependent who is physically or mentally incapable of self-care, so you can work, or if you’re married, for your spouse to
work, look for work or attend school full-time.

Who Is Eligible?
To qualify for a dependent care FSA:
» You and your spouse must work or attend school full-time
» Your child must be under age 13 or a tax-eligible dependent who can’t care for him or herself
» You don’t need to be enrolled in a health plan to participate in a dependent care FSA

How It Works
» The maximum allowed by the IRS is $5,000 a year for individuals or married couples filing jointly, or $2,500 for a married person filing
separately
» Submit a claim for your eligible dependent care expenses
» Get the money back from your dependent care account

Eligible Expenses
» Before school and after school
» Expenses for preschool/nursery school
» Extended school programs
» Au pair services (amounts paid for the actual care of the dependents)
» Baby sitter (in or out of the home)
» Nanny services (amounts paid for the actual care of the dependents)
» Summer day camp for your qualifying child under age 13
» Elder day care for a qualifying individual