Dependent Care Flexible Spending Account (FSA)
Save smartly
Flexible Spending Accounts (FSA) allow you to set aside money tax-free during the year for anticipated healthcare and/or dependent care expenses. They’re both a great way to budget and plan for expected expenses, while also saving tax dollars at the same time. For information on the Healthcare FSA, please visit this page of the site.
Dependent Care FSA
Covered expenses include dependent care expenses for your children or other eligible dependents so that you (or you and your spouse, if married) may work. Your spouse must work or attend school full time for your expenses to be eligible. An eligible dependent is a child under the age of 13 or any dependent who is incapable of caring for him- or herself, whom you can claim on your tax return, and who spends at least eight hours a day in your home. Participants may set aside up to $5,000 per year (in 2024) and $5,000 per year (in 2025) to cover dependent care expenses. Eligible Flexible Spending Account expenses are listed in IRS Publications 502 and 503, which you can obtain through the IRS Website.
*You must renew your FSA elections every year. Even with no changes, FSA elections will not carry over from one year to the next.
Important Documents
