The maximum contribution for dependent care (Daycare FSA) accounts is set by the IRS at $5,000 if you are single head of household or married filing jointly. If married and filing separately, the Daycare FSA maximum is $2,500.

No, you can use monies only for the purpose for which your election was made. Monies cannot be transferred between accounts.

This amount is established in your company's plan document while the Daycare FSA is set by the IRS - Daycare FSA.

No. Expenses for education do not qualify for your Dependent Care FSA. However, if you are charged for "after-care" for the portion of the day that your child attends the school that is charged for care and well-being, this charge does qualify for the Dependent Care FSA. Your provider must provide you with support for the charges for the portion that is specifically for care and well-being.

If you are married and file a joint tax return, the maximum amount you may exclude is $5,000. In other words, you and your spouse may not each claim $5,000. The maximum amount available if you are married but filing separate returns is $2,500. Please note you may not "double-dip" expenses (e.g., expenses reimbursed under your dependent care FSA may not be reimbursed under your spouse's dependent care FSA and vice versa).

For a medical FSA, the maximum annual election is set by your company and can be found in the Summary Plan Description (SPD). For a dependent care FSA, the maximum annual election is set by the IRS and is as follows:

The health and dependent care spending accounts are two separate benefit plans. Per IRS regulations, you cannot transfer money between the two accounts.

No. Contributions allocated to one benefit account can only be used to pay a claim from that benefit program. For example, your contributions to your Health Care FSA cannot be used to pay a dependent care expense.

No. Money directed to one type of account can be used only for expenses relating to that account. This is true even if all the money in one account is not used and the other account runs short. Participants will forfeit any money left in the account after they have submitted claims for the entire year. Reminders are sent to the employee to minimize this risk.

Expenses for dependent care no longer qualify for the Dependent Care FSA on the day your child turns age 13 unless they have been certified as incapable of self-care. Care for dependents incapable of self-care qualifies to any age as long as it is for care and well-being while you are working or looking for work. No. Only charges for care and well-being in order for you to work or look for work qualify for your Dependent Care FSA.

No. The Internal Revenue Code disqualifies expenses that include overnight care. The charges cannot be prorated to include the portion that was for care during the day while you were working.

Generally, no. However, if the primary purpose of these camps is for care and well-being in order for you (or you and your spouse if married) to be gainfully employed, they may qualify. If for care and well-being, you must send a statement, with each claim submitted, stating that child attends that camp primary for care and well-being and not for educational purposes. Home | FSA Eligible Expenses | FSA Overview | HRA Overview | Commuter Benefit Overview | FAQ | Tax Savings Calculator

Your election may not exceed the maximum amount specified in Section 129 of the Internal Revenue Code. Currently, the maximum annual amount is $5,000 per year ($2,500 if you are married and file separate returns). Your maximum allocation may not exceed the earned income limitation. If you are single, the earned income limitation is your salary (excluding your contributions to the plan).

You can reduce your taxes and increase your spendable income by setting aside pre-tax dollars in a Dependent Care Spending Account and/or Health Care Spending Account. Through these accounts you can pay for qualifying dependent care expenses up to $5,000 annually and/or qualifying health care expenses up to $3,000 annually. Enterprise pays all administrative costs for this benefit.

Registration fees or administrative fees that are attributed to materials or administrative type fees This list is not all-inclusive. If you have questions regarding whether an expense is eligible or ineligible under a dependent care FSA, please call CONEXIS at (877) 864-9549

You can make an annual contribution ranging from $130 to $5,000 (or $2,500 each if you are married and file your taxes separately). You can go to the Internal Revenue website at www.irs.gov and view IRS Publication 502 (Medical and Dental Expenses) and IRS Publication 503 (Child and Dependent Care Expenses).

You can use the spending account for eligible daycare expenses so that you (or you and your spouse) can work if: a. You are responsible for at least 50 percent if the support of an elderly parent or any person living with you who is physically or mentally incapable of self-care. You also can use the dependent care spending account if the elder care is needed because you work and your spouse is a full-time student. Yes.

Day care expenses are eligible whether provided by an individual or by an established day care center. If the provider is a day care center which regularly provides care for more than 6 people, the center must comply with state and local laws and regulations. The claim will be paid up to the amount available in the account. The participant will be reimbursed for the rest of the claim once the money is deposited in the account.

The amount you have elected is deducted from your paycheck on a bi-weekly basis and set aside in your Dependent Care Account. You pay day care expenses as usual. Then you submit a request for reimbursement along with receipts to the FSA Administrator. The accompanying receipts must include the dates of service, and the provider's federal tax identification number. If approved, the FSA Administrator will then send you a check for the reimbursement.

Maximum amounts for dependent care is set by IRS Regulations. If you are married, filing jointly, you may claim $5,000 per year. The limit is $2,500 if employee is married but filing separately. No. You can count work-related payments you make to relatives only if they are not your dependents. Do not count any amounts you pay to: