Dependent Health Care Spending Account
The Dependent Care Spending Account (DCSA) allows you to direct pre-tax dollars from your pay into your own account to pay yourself back for covered dependent care charges, such as child care or elder care.
Aetna is our third-party administrator (TPA). You should visit their web site to register as a user to access their services, such as debit card transactions, direct deposit, Pay My Provider, and more.
Full-time and part-time faculty, administrative staff, and supportive operating staff. New employees are eligible to participate in this account on their first day of work.
Each employee elects an amount to deposit from their pay, on a pre-tax basis, into the account.
The purpose of the DCSA is to use pre-tax dollars to pay for dependent care expenses, such as child care (dependent children under age 13) or elder care. An employee can elect to deposit up to $2,500 or $5,000 per plan year into the DCSA, depending on whether the employee is single or married, files a separate or joint tax return, and whether or not the employee's spouse contributes to a dependent care account.
You determine how much you want to direct into the account for the plan year. This amount is divided by the number of pays and the result is deducted from each pay on a pre-tax basis. You do not pay federal, state, and social security taxes on the amount you direct into your DCSA from your pay. The benefit of the DCSA is the tax savings.
Example - If a supportive operating staff employee on a biweekly payroll directs $2500.00 into the DCSA, then $96.15 ($2,500.00/26 pay checks per year) will be deducted on a pre-tax basis from each paycheck. The employee saves federal, state, and social security taxes on the $2500.00.
To get reimbursed, you simply complete a claim form and attach an itemized bill from the dependent care provider showing the dates of services, the tax ID number (social security number or employer identification number), and the signature of the provider must be on the bill. The amount available for reimbursement equals the total DCSA deductions that have been made to date. This is not a prefunded account. Forward the claim to FlexBen at the address listed above or, preferably, fax the claim form to 1-877-353-9236. Claims are processed and reimbursed on a weekly basis.
Please refer to the Summary Plan Description that was given to you for a detailed description of this benefit. This plan has been described here in a general manner. Your benefits are more fully described in the Plan document. In the case of a conflict or omission, the provisions of the Plan document will govern.
Consult the summary plan if you have any questions or call Jim Ables at ext. 6239 in the Office of Human Resources.