Dependent Care FSA
Important information about your 2020 FSA
What you need to know
Setting aside pretax dollars in a Dependent Care Flexible Spending Account (FSA) can help you save on child and adult day care expenses. The Dependent Care FSA covers eligible dependent care expenses, including child and adult day care while you work, and preschool, summer camp, and before- and after-school programs.
Save two ways when you enroll in a Dependent Care FSA
This short video shows you how.
How it Works
When you elect your benefits as a new employee or during annual open enrollment, you choose your FSA contribution level for the calendar year (up to $5,000 if you and your spouse file joint tax returns; $2,500 if you file separately).
You’ll need to elect your contribution level during open enrollment each year (as long as you have an FSA), because FSA elections don’t roll over from year to year.
Your pretax paycheck contributions are deposited directly into your Dependent Care FSA, which is administered by HSA Bank.