$99 Dependent Care FSA Plan Documents

Dependent Care Flexible Spending Account (FSA)
This module of the Cafeteria Plan allows employees to use pre-tax dollars to pay for dependent care expenses. Usually offered in conjunction with a Section 125 POP, the Dependent Care FSA is a budgeting tool that can help take care of dependent and day care out-of-pocket expenses. Like a Section 125 POP, a Dependent Care FSA helps pay for itself by increasing employee take-home pay while decreasing employer payroll taxes. Here's how it works:

  • An employee decides how much of their salary should be set aside before taxes are calculated.
  • This amount is automatically deducted from their paycheck every pay period, just like any other payroll deduction, and is deposited into their FSA account.
  • The employees would pay their out-of-pocket expenses upfront, then submit a claim and documentation and a reimbursement is made from their own account.

Dependent care expenses include:

Care for a child under the age of 13

Care for a disabled spouse or dependent incapable of caring for him/herself

Household-related services (i.e., visiting nurse)

The flexibility of an FSA plan makes it the best option for small to medium sized businesses.

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