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Level 2
October 26, 2022
Question

Flexible Spending Account

  • October 26, 2022
  • 1 reply
  • 13 views

What is a FSA and how can I use it for childcare?

    1 reply

    Level 4
    October 26, 2022

    Hi Hayleemphillips

     

    A Flexible Spending Account (also known as a flexible spending arrangement) is a special account you put money into that you use to pay for certain out-of-pocket health care costs.

     

    A Flexible Spending Account is NOT eligible for daycare expenses, however, a DependentCare FSA is eligible.

     

    A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for eligible dependent care services, such as preschool, summer day camp, before or after school programs, and child or adult daycare

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