Maximum Dependent Care Flexible Spending Account (DCFSA) election is determined by the IRS (Section 129). In 2022, you can contribute to up to a maximum of:
After you're enrolled, your funds are withdrawn automatically from your paychecks for deposit into your account before taxes are deducted. For questions regarding the cadence of payroll deductions, please speak to your payroll administrator.
Once you account is funded, you can use your balance to pay for eligible DCFSA expenses. Unlike other FSA accounts, you may only use the funds that are available in your account, not the entire election amount.
If you have any questions, we are happy to help! Please reach out to Benepass Support for any assistance.