Dependent Care Spending Accounts allow individuals to contribute up to $5,000 pre-tax per household for dependent care expenses. Dependent care accounts can be used for dependents who have not yet turned 13 until 6/30 of each benefit year.
The FSA benefit year goes from 7/1-6/30. In order to continue contributing to an FSA past 6/30, you MUST re-enroll in this benefit during the open enrollment period (generally during the month of April).
Dependent Care FSA’s can be used in conjunction with a High Deductible Health Plan (HDHP).
