Flexible Spending Account
A Dependent Care Flexible Spending Account (FSA) is a special account you put money into that you use to pay for certain out-of-pocket dependent care costs. You don't pay taxes on this money. This means you'll save an amount equal to the taxes you would have paid on the money you set aside. Employees may be eligible to participate in the Dependent Care FSA is administered by isolved Benefit Services.
Watch this video to learn more about Dependent Care FSA
FSA BASICS
- Money deducted from your paycheck pre-tax.
- Used for eligible dependent care expenses (see "Eligible FSA Expenses" section below).
- You will receive a debit card from isolved Benefit Services to use towards eligible expenses.
- Everyone must re-enroll every year.
Qualified Dependents Include
- Dependents under the age of 13
- Dependent or spouse of an employee who is mentally or physically disables and whom the employee claims as a dependent on federal income tax return
USING YOUR FSA
- Pay out-of-pocket and submit a claim (mail-in form or online) for reimbursement
- Use your FSA debit card to pay for eligible expenses
- Keep all receipts in case you need to provide documentation
Dependent Care FSA
Available with:
PPO Plan & HDHP Plan
Qualified Dependents Include:
> Dependents under the age of 13 > Dependent or spouse of an employee who is mentally or physically disables and whom the employee claims as a dependent on federal income tax return
A Dependent Care FSA is a pre-tax spending account used to pay for eligible dependent care services, such as preschool, summer day camp, before or after school programs, and child or adult daycare.
Availability of Funds: As they are deposited
Maximum Contribution
Dependent Care Flexible Spending Account1,2
Single or married filing a joint return: $5,000
Married filing separate return: $2,500
- The IRS requires you to keep copies of all expenses in which your FSA dollars were used.
- Annual pledged contribution is available to the extent of employee contribution.
Contact the provider of these benefits by calling this phone number or visiting this website: isolved Benefit Services Customer Service - (866) 370-3040, www.isolvedbenefitsservices.com
QUESTIONS? CONTACT THE CARE LINE
Care Line is an NFP-sponsored program that is staffed by dedicated professionals to help you understand the benefit options made available to you. Whether you have concerns about a recent claim or bill, finding an in-network doctor or just some guidance on which medical plan is right for you and your family, the Care Line can help educate and advocate. The Care Line is available to all employees and children over 18 who are enrolled on the benefit plan.
Contact the Care Line at (844) 717-8777, or you can submit your questions at callthecareline.com.
The Care Line is open Monday - Friday from 8:00 am - 7:00 pm (EST).