Dependent Care Reimbursement
This Dependent Care Reimbursement Account reimburses participants for eligible daycare (including eldercare) expenses related to IRS-defined dependents so that employees may work as productively as possible—and worry free. Tax savings result by allowing up to $5,000 in pre-tax dollars to be set aside for certain expenses incurred for any child under the age of 13 or for other dependents that are physically or mentally unable to care for themselves.
Examples of expenses reimbursable through a Dependent Care Reimbursement Account include the following:
- Dependent care provided in a private home
(when the costs are reported as income)
- Dependent care provided in a child or adult
daycare center
- Nursery school
- After-school program