TURN CAREGIVING INTO TAX SAVINGS
Keep more of your hard-earned money. Plan your spending, know the rules and unlock amazing tax savings.
What is a Dependent Care Flexible Spending Account?
What is a Dependent Care
Flexible Spending Account?
DCFSAs are tax-advantaged accounts that let you use pre-tax dollars to pay for eligible dependent care expenses. A qualifying ‘dependent’ may be a child under age 13, a disabled spouse, or an older parent in eldercare.
Why choose us?
24/7 US-based member services
Award-winning mobile app1
Easy account management
Smart alerts and notifications
Am I eligible for a Dependent Care Flexible Spending Account?
Eligibility requires a DCFSA offered through your employer. DCFSAs can be combined with a standard FSA or an HSA. DCFSAs do not impact HSA eligibility.
How do I sign up?
You can sign up for a DCFSA during your organization’s annual enrollment period.
Plan your spending
It pays to be strategic.
Pay for dependent care expenses
Elder Day Care
Your savings can add up fast
Here’s an example based on $4,500 annual spending and a 30 percent effective tax rate.
After school program
Annual tax savings2
DCFSA savings calculator
Discover the full power of your DCFSA. Just input your planned spending and watch the savings add up.Calculate my DCFSA tax savings
Make your elections
Once you choose an annual contribution, your employer will deduct that amount pre-tax in equal parts from each paycheck. DCFSA funds are made available only as money is added to the account.
DCFSA Annual Contribution Limit
Individual and family limit3
Know the rules
Don’t get caught by surprise. Carefully review your open enrollment materials.
You only have one year to spend your DCFSA money. Unused funds are forfeited to your employer—usually at the end of the plan year.
Some organizations offer an additional 2 ½ months to spend DCFSA funds at the end of the year. Note that grace periods vary by plan design. Confirm with your employer the rules for your plan.
Limited Election Period
Elections can only be made during open enrollment unless you have a qualifying life event,4 which may include changes to:
You can’t get reimbursed twice for the same expense (example: reimbursement + deduction from tax returns).
We make it easy to get reimbursed:
Pay for your products or services
Upload your receipts online or in the mobile app
Choose reimbursement by check or have funds deposited directly into your bank account
Check out these additional resources.
Watch our DCFSA on-demand webinar
Check out our webinar to discover what expenses are covered and strategies to maximize your annual savings.
1Accounts must be activated via the HealthEquity website in order to use the mobile app.
2The example used is for illustrative purposes only; actual savings may vary. The figure is based on average tax rates, including state, federal and FICA taxes.
3If Married Filing Separately your limit is $2,500.
4Please refer to your plan documents for more information.
HealthEquity does not provide legal, tax or financial advice. Always consult a professional when making life-changing decisions.