The Dependent Care Flexible Spending Account (FSA) is used to pay for eligible dependent care expenses while the legal guardian is at work. Examples include care for:
- Children under the age of 13
- Children of any age who are physically or mentally incapable of self-care
- Adult day care for senior citizen dependents who live with you, such as parents or grandparents
With school starting again, now is a great time to leverage your FSA to pay for after-school care.
Don't have an FSA? You can sign-up during Open Enrollment in late September or anytime you have a qualified life event (e.g. get married, have a child).
The Dependent Care FSA annual contribution limit is $5,000 per household.