How the FSA Dependent Care Account works:
You designate an amount to be deducted in equal installments from your paycheck. You cannot change your contribution amount or suspend your payroll deductions during the year unless you have a qualified change in family status, as defined by the Internal Revenue Service.
All regular, full-time employees and faculty members are eligible to participate in the Dependent Care Account.
Eligible expenses are only those expenses that you incur because you work, and are expenses for services received during the calendar year in which you are participating. If you are a two-parent family, both parents must be working in order to qualify for the Plan.
Eligible dependents are defined as:
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children under the age of 13;
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older, disabled dependents whom you can claim in your income tax return
The maximum annual contribution qualifying for pre-tax reimbursement is $5,000 per family.
Check out plan details, easy-to-use calculators and enrollment at www.wageworks.com. Click on: “First Time User? Register Now,” and follow the simple steps.
Current Employees: Open enrollment is during the months of November and December for the following calendar year. You must re-enroll each year to continue or change your participation in an FSA account.
New Hires: You have 31 days from the date of your Benefits Orientation to enroll on-line for the current calendar year.
If you have a question regarding your payroll deduction, please contact the Benefits Department at 215-926-2281. Inquiries about how the program works should be directed to WageWorks.