DCFSA frequently asked questions

A DCFSA lets you use pre-tax dollars to pay for eligible expenses related to care for your child (under age 13), disabled spouse, elderly parent, or other qualified dependent who is physically or mentally incapable of self-care. You can use funds from a DCFSA for costs for dependent care while you're working, looking for work or attending school full-time.

• Estimate your eligible dependent care expenses for the upcoming year.
• Determine how much you want to have set aside from your pay to go into your DCFSA to pay for eligible expenses in the coming year (this amount is called your "election").
• The money you elect for your DCFSA will be automatically deducted from your paycheck on a pre-tax basis and credited to your DCFSA throughout the year.
• When you have an eligible expense, you can use your Bankd of America Health and Benefits Visa Debit Card to pay or submit a claim for reimbursement from your DCFSA.

Contribution limits for the DCFSA generally change each year. View the current contribution limits in the How do health and benefit accounts compare article. Consult your benefit materials for the specific details for your company's plan.

You can check your dependent care claims from the previous year to get a rough idea of how much you may spend in the coming year. You can also model different scenarios using our DCFSA calculator.

A dependent care flexible spending account covers qualified day care expenses for children younger than age 13 and adult dependents who are incapable of caring for themselves. Check out the What expenses are covered?

DCFSA funds do not roll over year after year so you need to use it or lose it. Any unused money in your DCFSA within the plan year will be forfeited. And a DCFSA is not portable if you change companies or terminate employment.