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Dependent Care Flexible Spending Account.pdf

depcare-fsa.pdf

Preview of Dependent Care Flexible Spending Account

🔗 Source: ucnet.universityofcalifornia.edu

📊 Size: 364 KB

📄 Pages: 12 pages

⬇️ Downloads: 186

Summary

The Dependent Care Flexible Spending Account (DepCare FSA) allows employees to set aside pretax money for dependent care expenses. The annual maximum contribution is $2,500 for highly-compensated employees (those who earned $155,000 or more in 2024) and $5,000 for all other employees. The annual minimum contribution is $180. Claims must be filed by April 15 of the following year, and a grace period is offered through March 15. Employees must enroll each year, and coverage begins the first day of the month following enrollment. Eligible dependents include children up to age 13, spouses or dependents who are physically or mentally incapable of self-care, and certain other individuals who live with the employee.

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Description

The Dependent Care Flexible Spending Account (DepCare FSA) allows employees to set aside pretax money for dependent care expenses.

Technical Information

File Format: PDF
File Size: 364 KB
Pages: 12
Language: EN
Total Downloads: 186
Last Updated: 7 days ago

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