With the DCFSA, you don’t have to pay taxes on the money you use to pay for eligible expenses, such as dependent day care and elder care programs.
DEPENDENT CARE FLEXIBLE SPENDING ACCOUNT (DCFSA)
COVID-19 and Paying for Child Care and Elder Care Expenses
You have until December 31, 2022, to spend your 2021 DCFSA balance. This gives you an additional full year to use your 2021 DCFSA money.
In 2022, annual contributions to your DCFSA will revert back to $5,000 ($2,500 if married and filing separate income tax returns).
Who can participate?
You are eligible to open a DCFSA if you have eligible dependents.
Who can contribute?
Only you can make contributions.
How much can I contribute?
You can contribute a minimum of $500 to a maximum of $5,000 a year.
If you are married and file separate tax returns, the most you can contribute is $2,500. The IRS maximum contribution may be no more than the maximum earnings of the spouse who earns the least.
Can I change my contributions?
You can change your contributions only if you experience an applicable qualified life event.
Do I need to open an account?
Not exactly. You will need to enroll and elect an annual contribution amount in order to participate in the DCFSA.
What can I use the money for?
Eligible expenses, including licensed day care, after-school care programs or summer day camps for dependents under age 13, or care provided for disabled or elderly dependents or your disabled spouse.
How do I use the money?
You can make payments directly to providers or get reimbursed from your account.
When can I use the money?
You can use funds that are currently in your account. You can be reimbursed for expenses you incur between January 1, 2022 – December 31, 2022. You can submit claims from this period for reimbursement through March 15, 2023.
Can I lose the money?
Yes. The money in your DCFSA will not roll over from year to year. Any unused funds on December 31, 2022, are forfeited. However, you have until March 15, 2023, to submit reimbursement claims for expenses you incur between January 1, 2022 – December 31, 2022.
Can I take my money with me if I leave Hess?
No. However, you can still use any unused amounts in your DCFSA to pay for claims incurred before you left Hess. Any unused amounts will be forfeited at the end of the calendar year.
How do I file a claim?
Go to wageworks.com > Claims & Activity > Submit Receipt or Claim. You’ll have the option to Pay Me Back or Pay My Provider. You can also call WageWorks at 1-877-924-3967 for assistance.