Dependent Care Spending Account
Under the Internal Revenue Service rules, a married employee with a working spouse or a single parent may allocate up to $5,000 in pre-tax dollars per plan year (and per calendar year, per IRS regulations) to a dependent care account. This amount is limited to $2,500 in the case of a separate return filed by a married individual. Expenses payable through the account are those incurred in order to permit the individual (and, if married, the spouse) to work, rather than caring for the dependent full time.
To file a claim for your dependent care spending account, submit a pay-me-back request online (see below) or via the WageWorks app (be sure to follow the directions).
Dependent care spending accounts only allow for reimbursement of amounts already deducted from your paycheck. So, if your claim exceeds your per-pay-period deduction amount, you will be reimbursed the deducted amount after each payroll until the approved claim amount has been reached.
For more information on how the dependent care spending account works, visit the WageWorks website.
WageWorks offers you the flexibility to file your “Pay Me Back” forms online. Simply follow these steps:
- Log in to www.wageworks.com and log into your account and click the Health Care or Dependent Care tab.
- Select the online claim form.
- Fill in all the information requested on the form and submit.
- Scan receipts, EOBs and other supporting documentation.
- Attach supporting documentation to your claim by using the upload utility (or print the pre-populated online claim form and submit it along with your documentation via mail or fax to the address or fax number referenced on the form).
- To speed processing, remember to save receipts that show exactly what you paid for, the amount and date of service.
If your child care situation changes or expenses change, you may have a qualifying change in status and you may be able to change your dependent care spending account election. See the Plan Document for more detailed information about this plan. Contact a member of your Benefits Team for more information.