Dependent day care FSA

Pre-tax dollars used for day care

  • A dependent day care FSA lets you set aside pre-tax dollars to cover expenses for your child(ren) or other qualifying person so that you and your spouse can work or look for work.

  • You and your spouse can contribute a combined total between $500 and $5,000 per calendar year through automatic payroll deductions.

  • Since your contribution is pre-tax, less in taxes come out of your paycheck.

  • Unlike the health care FSA, you can only use funds that have already been withheld from your paycheck.

  • You have to enroll each year.

  • First Financial Group of America administers the plan.

Requirements

Eligible expenses must meet certain requirements.

 

For dependents ages 12 and under

  • You must be able to claim an exemption on your federal income tax return for the child, or you must be a parent who has custody for a longer time during the year than the other parent, even if you cannot claim a dependent exemption.
  • A relative can provide the care, unless the relative is your spouse, child or stepchild under the age of 19, or a relative that you can claim as a dependent on your federal income tax return.
  • If the care is given by a day care center (a center that cares for more than six individuals), that center must comply with all applicable state and local day care regulations.

 

For dependents ages 13 and over

  • The individual must be your dependent for federal income tax purposes and must be physically or mentally incapable of self-care.
  • The dependent must live with you.
  • The care may be given outside the home if the dependent regularly spends at least eight hours per day in your home. The dependent day care center must care for more than six individuals and must comply with all applicable state and local day care regulations.
What your dependent day care FSA covers

Payments to nursery schools, daycare centers and eldercare facilities are eligible. So are payments for before- and after-school care and summer day camp for children up to age 13. Overnight camp expenses are not eligible.

Important: You can't use this account to pay for dependent medical expenses.

How it works

After enrollment, we begin automatically deducting your contribution from your pay. Your dependent day care FSA reimburses you up to the amount of funds you have contributed at the time of your claim.

You can submit claims for reimbursement from your contributions online here, or by mail using this claim form

If you need help with the claims process, visit the First Financial Group of America website or call First Financial Group of America at 866-853-3539.

Restrictions

In return for the favorable tax advantages, the IRS has strict rules on these accounts.

  • You can’t change the amount you contribute until the next plan year, unless you have a qualified life event
  • You can’t transfer money from this account to another FSA account
  • To be reimbursed, you must be enrolled in the FSA when you incur expenses
  • You may use your 2018 FSA funds for expenses incurred through March 15, 2019, and you have until May 15 of that year to submit documentation for those expenses
  • You forfeit any leftover funds in the account
Determining your contribution

Estimate the amount of your upcoming expenses using the Dependent Care Flexible Spending Account Worksheet. Remember to subtract holidays, vacations and other times you may not need to pay for eligible child(ren), adult or elder care. Also consider whether any dependents will lose dependent status during the year, for example, if a healthy dependent child is turning 13.

2018 dependent day care FSA account calendar

January 1, 2018 – March 15, 2019
Eligible dependent day care FSA expenses are covered

 

May 15, 2019
Deadline to submit documentation for 2018 dependent day care FSA expenses

Helpful resources

For more information, contact First Financial Group of America at 866-853-3539  between 7 a.m. and 5. p.m. weekdays, excluding holidays. Also, see the flexible spending account FAQs.

 

For more information on tax-deductible expenses, visit the IRS online or call 800-TAX-FORM (800-829-3676). If you’re not sure whether an expense is eligible, check with your tax advisor.

Your cost

Minimum $500, Maximum $5,000

Based on 24 pay periods $0.00

For any benefits question or concern, including 24/7 Nurse Line access, one call does it all.
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