Can I pay for child care before taxes?How much can I contribute?What is Woodbury contributing?
Plan Options: Dependent Care Flexible Spending Account
The Dependent Care Flexible Spending Account allows you to set aside pre-tax dollars to pay for qualifying out-of-pocket child or dependent care expenses allowing you to save 10% – 30%, depending on your personal tax rate. The plan administrator, National Benefits Services, will help you manage your accounts and claims processing.
(801) 532-4000 | nbsbenefits.com | Group ID: NBS275015
Dependent Care Account |
- You and your spouse both work
- You are a single head of household
- Your spouse is disabled or a full-time student
- Employees with children under age 13 and anyone who is a dependent under IRS rules, or who is mentally or physically incapable of taking care of himself or herself
- Employees scheduled to work less than 30 hours per week are not eligible.
$5,000 If you are married & filing jointly
$2,500 If you are married & filing separate tax returns
This information is designed to help you choose a benefit plan for 2024 only. Please refer to the Plan Documents provided by the carrier for information regarding coverage, limitations, and exclusions. If there is a difference between this guide and the Plan Documents, the Plan Documents prevail.