Video: Dependent Care FSA

Dependent Care FSA

1. What if you had more money in your pocket to help pay for your dependent care expenses.
2. Now you can with the dependent care flexible spending account sponsored by your
3. employer and administered by a PayFlex.
4. The dependent care flexible spending account or FSA
5. allows you to contribute pre-tax dollars to pay for eligible dependent care expenses. Such eligible expenses include:
6. daycare, nursery or preschool,
7. before and after school programs and adult day care.
8. Here's how it works.
9. When enrolling in your benefits for the new plan your estimate the amount you need to pay for eligible work-related dependent care expenses.
10. Estimate your contribution carefully as unused funds do not roll over at the end of the plan year and will be forfeited.
11. Based on your estimate make it annual pre-tax contributions election to your dependent care FSA
12. then throughout the year use your FSA to pay for eligible work-related dependent care expenses for your child under the age of 13
13. and any eligible dependents who live with you and our incapable of self-care.
14. PayFlex makes it easy,
15. you can access your account virtually anytime anywhere through our dynamic website
16. or our innovative PayFlex Mobile App that brings the website and all its functionality to your fingertips.
17. After dependent daycare services have been provided simply submit a claim for quick reimbursement online
18. or take a picture of a receipt with your phone and use the mobile app to upload.
19. Take advantage of your company's dependent care FSA and start saving.
20. This has been a brief summary of a dependent care FSA.