Flexible Spending Accounts
***Participants enrolled in the Dependent Care FSA plan who experience an interruption of their dependent care services due to COVID-19 may request termination of their payroll deductions for the remainder of the 2020 plan year. Email requests can be sent to email@example.com with the employee name and employee number and the type of services that will no longer be utilized as well as the reason.
Cook County offers easy to use flexible spending accounts that allow employees to pay for healthcare, childcare, elder care and commuter benefits using pre tax money deducted from your paycheck.
When you are estimating your dependent care expenses for the year, keep in mind you can set up a Flexible Spending Account (FSA) to pay for eligible expenses. When you enroll, you decide how much you will set aside from your pay before taxes.
Dependent Care FSA
If you pay to care for dependents while at work, use these funds to cover eligible expenses for day care, babysitting, nursery school and senior day care. You can set aside up to $5,000 to help with dependent care costs that aren’t covered by insurance. You must submit claims forms for dependent care FSA reimbursement.
Employees have until March 15, 2021 to spend remaining funds in their dependent care FSA for the 2020 plan year. March 31, 2021 is the deadline to submit paper claims and receipts to ConnectYourCare for covered expenses in the 2020 plan year.
By federal law, any funds remaining in these accounts at the end of the grace period cannot be rolled over or be refunded.
Nhà cái nổi tiếngConnectYourCare (CYC)