Eligible expenses for children and disabled spouses.
A Dependent Care Reimbursement Account can be used to reimburse for eligible daycare expenses for children 12-and-under or for adult daycare expenses for a disabled spouse or IRS tax dependent. The maximum annual deduction is $5000 (or $2500 if married and filing separately).
Dependent care expenses must be for "custodial care.” You and your spouse must be employed (full- or part-time), looking for work, or going to school full-time.
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Yes. You must complete the Reimbursement Request Form and attach a receipt of payment that shows the dates of service.
If you have set aside money through salary reduction, and you do not use it by the end of the plan year, you will lose it. The IRS requires that all funds that have been deducted from your paychecks and placed in the Dependent Care Account must be used during the plan year. It is important to deduct from your salary only the amount that you’re sure you’ll spend.
Yes. You can, as long as any of the following qualifying events happen:
If you need to change your healthcare or dependent care election, you must have experienced an IRS Qualified Life Event. Qualified Life Events include certain changes in family or work status. Please contact your employer for more information.
Examples of Qualified Life Event Changes include:
Please refer to your Summary Plan Description for more details.