A dependent care flexible spending account (FSA) allows you to pay for employment-related dependent care services related to care of a qualifying individual on a pre-tax basis. For a list of eligible dependent care expenses, please click here (provide link to DCAP list - currently on website under resources tab). Dependent care expenses must be incurred to enable you (and your spouse if married) to work or look for work.

The Benny card can only be used for flexible spending health care accounts. Government regulations do not permit the use of a Benny Card for dependent care accounts. We apologize for any inconvenience, it is the government's policy, not the University's policy. You will have to file a claim form for a flexible spending dependent care account. See similar questions...

A Transportation Fringe Benefit Account is an employer sponsored plan that is endorsed by Section 132 of Internal Revenue Code which allows you to reimburse yourself for your work related commute and qualified parking expenses on a pre-tax basis. Your participation in the plan is voluntary. See similar questions...

Yes. Before you can charge prescriptions to your FSA debit card, you must provide the account number to CarolinaCARE. In 2007, there is no waiting period to activate the card. You may update your method of payment by logging in to the CarolinaCARE website at www.carolinacarerx.org. After you have logged in, go to "Update Your Profile" > "Manage Payment Method". If you do not have access to the website, call a CarolinaCARE customer service representative at 704-512-6800. See similar questions...

Flexible Spending Accounts allow employees to pay for certain child care or out-of-pocket medical expenses with pre-tax rather than after-tax dollars. Employees determine the amount they want to contribute pre-tax on an annual basis - up to the $5000 per calendar year cap set by the IRS. Employees who want to participate in this program must reenroll every calendar year during Open Enrollment. New employees cannot open an FSA for medical expenses during their first year of employment. See similar questions...

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. See similar questions...

FSA is a benefit provided by your employer that lets you set aside a certain amount of your paycheck into an account before paying income taxes. Then, during the year you can use funds in the account to pay for qualified expenses with tax-free dollars. FSA components include: Health Care Account, Dependent Care Account, Commuter Benefits, and Adoption Assistance. Check with your employer for more details. See similar questions...

Absolutely. Please check with your plan's administrator to verify the required paperwork needed for submission. See similar questions...

FSA lets you use pre-tax dollars for certain eligible medical and dependent daycare expenses. By setting aside money from each paycheck, you pay less in taxes and have money available when you need it to pay for covered services. See similar questions...

Employees set aside pre-tax payroll deductions in the account to budget for the daycare expenses of a dependent child under age 13. Qualified expenses include nannies, babysitters, housekeepers, nurse's fees, and registration fees to a daycare facility. The cost of pre-K or nursery school, before and after school care, and day camp also qualify. To qualify, expenses paid for daycare must allow an employee or the employee's spouse to work or look for employment. See similar questions...

A healthcare flexible spending account (FSA) allows you to pay for qualified out-of-pocket medical expenses on a pre-tax basis. See similar questions...

We do not offer a flexible medical spending account at the present time. However, we do offer a dependent care spending account (available through Colonial Life) for setting aside up to $5,000, pretax, for dependent care expenses. See similar questions...

your dependent who was under age 13 when the care was provided and whom you can claim an exemption on your Federal Income Tax return, your dependent who was physically or mentally not able to care for himself or herself and whom you can claim as an exemption (or could claim as an exemption except the person had $2,900 or more of gross income). Physically or mentally not able to care for oneself. See similar questions...

For your protection, there is a daily spending limit of $2,000 as long as the money is available in your account. ATM machine withdrawals have a daily limit of $500, which is subject to change based on individual ATM machines. If you are trying to make a purchase over the $2,000 daily limit, the merchant must call the number (1-888-437-0103) on the back of your debit card to initiate a manual authorization. In some cases, there may be a charge. See similar questions...

employee can not continue to make contributions to their dependent care account after termination of employment. However, an employee can continue to request reimbursement for eligible expenses until the account balance is exhausted, or the plan year ends, even if the full annual amount has not been contributed prior to termination. See similar questions...

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). See similar questions...