A dependent care Flexible Spending Account (FSA) is a savings account used to help pay for qualified expenses related to care for dependents who are 13 years old or younger, disabled spouses, elderly parents, or other dependents who are physically or mentally unable to care for themselves. A dependent care FSA is offered by your employer and funded through pre-tax payroll deductions. Learn more about FSA regulations from the IRS here.Updated September 26, 2017
This article provides general information and shouldn’t be construed as legal, benefits, or HR advice. Benefits and insurance regulations may change over time and may vary by location and employer size. So, please consult a licensed broker or appropriately certified expert for advice specific to your business’s benefits options.