Dependent Care Reimbursement Account
This flexible spending account allows you to pay for day care expenses for children under 13, or an incapacitated spouse or other dependent adult who lives with you.
All employees are eligible to participate. There is a 60-day enrollment window for new employees; if this is missed, the employee must enroll during Open Enrollment. Participants must re-enroll each year during the annual Open Enrollment period for the following calendar year. Mid-year changes or enrollments are possible only if an allowable status change, such as gaining or losing a dependent, occurs.
The minimum monthly deduction is $20.00, and the maximum is $416.66, for a total of $5,000 per calendar year. A claim form and supporting documents must be submitted to ASI, the third party administrator, for reimbursement. Deduction calculations must be done carefully, as money which is not spent by the end of the calendar year is not rolled into the next year. There is also a $1.00 monthly after-tax administrative fee charged for each account.