A Dependent Care Spending Account is a benefit that allows you to direct part of your pay – on a pre-tax basis – into a special account you can use throughout the year to reimburse dependent care expenses for a child or elderly parent. Because this money goes into your account before federal or Social Security taxes are withheld, you pay less in taxes – and have more disposable income. In most cases, you avoid state and local taxes as well. Your tax advisor can tell you if this exemption applies in your state.
You can use your Dependent Care Spending Account to reimburse yourself for dependent day care expenses necessary because you (or you and your spouse) work by submitting this form. Eligible examples include:
Visit the Aetna FSA Web site for more information on Dependent Care Spending Accounts, including helpful calculators and tools.