Dependent Care Reimbursement Account Administration
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1.
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Allows employees to pay out-of-pocket qualified dependent care costs tax free
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2.
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Expenses must be incurred to enable the employee and spouse, if married, to be gainfully employed
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3.
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Qualified dependent generally is a child age 12 or younger
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4.
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Debit card available for instant claim reimbursement
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5.
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Non-debit card claims processed weekly and paid by direct deposit or check to the employee participant
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6.
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Account is generally funded by the employee only but the employer may also make contributions
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7.
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Unused balances at the end of the year cannot be rolled over to the next year
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8.
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Employers and employees both save taxes
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