Dependent Care Flexible Spending Account (FSA)
Dependent Care FSA deadlines
You have until December 31 to incur expenses for the current year.
You have until May 31 to submit expenses for the previous year.
Children are wonderful, but they sure aren't cheap. To help you and your family better plan for child care costs, Adobe offers access to a Dependent Care FSA, which allows you to set aside up to $5,000 pretax per calendar year to pay for qualified day care (and/or elder care) expenses. Please note that if your spouse also has access to a Dependent Care FSA, your combined contributions cannot exceed $5,000.
You must meet IRS eligibility requirements to contribute to a Dependent Care FSA or to receive Adobe's gift contribution. For example, both you and your spouse must be gainfully employed. More information is in the FAQs on the Tri-Ad site.
When you enroll, Adobe makes a contribution, too! Adobe will make a nontaxable contribution to your account of up to $1,200 each year (prorated for new employees) to assist you with eligible dependent care expenses. Eligible dependents are children under 13 or elders who live in your home at least eight hours a day and are tax dependents. You can receive this amount even if you choose not to make your own contribution to the Dependent Care FSA, but you still need to enroll in the account. Adobe's contribution will count toward the $5,000 limit. View the IRS rules for child and dependent care expenses [PDF].
What can I use it for?
- In-home services provided by a babysitter, nursing aide or other attendant
- Nursing care for adults
- Day care services for children and adults
- Transportation to or from the care location if the transportation is furnished by the care provider
Full details on eligible expenses can be found at www.irs.gov.
You can only enroll during Open Enrollment or if you have a qualified life event during the year. This account is a "use it or lose it" account, so you will forfeit any unused funds at the end of the year. Visit Tri-Ad (SSO) for tools and resources to help you plan the amount you wish to set aside, including:
- Eligible expense lists
- Expense estimator
- Tax savings calculator
You can also manage your reimbursement accounts on the go with the Benefits by Tri-Ad mobile app!