A Dependent Care Flexible Spending Account (Dependent Care FSA) allows you to deduct money from your paycheck and deposit it into an employer-sponsored account. Dependent Care FSAs are exempt from federal income taxes, Social Security (FICA) taxes and, in most cases, state income taxes. The money in a Dependent Care FSA can be used for eligible dependent care expenses that happen while you are participating in the plan.
What are the benefits of a Dependent Care FSA?
Additional details
A Dependent Care FSA allows reimbursement of dependent care expenses for eligible dependents, like daycare, in-home care and day camp.
Once you determine how much you want to contribute, the amount will be deducted from your paycheck in equal installments throughout the year.
Be sure to estimate your expenses carefully as money left unspent in your Dependent Care FSA at the end of the year will be forfeited and not carried over to the following year.
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What is a Dependent Care Flex Spending Account (FSA)?
A Dependent Care Flexible Spending Account (Dependent Care FSA) allows you to deduct money from your paycheck and deposit it into an employer-sponsored account. Dependent Care FSAs are exempt from federal income taxes, Social Security (FICA) taxes and, in most cases, state income taxes. The money in a Dependent Care FSA can be used for eligible dependent care expenses that happen while you are participating in the plan.
What are the current IRS contribution limits for FSAs?
The IRS sets contribution limits annually. The 2025 maximum annual FSA contribution limits are as follows: Dependent Care FSA - $2,500 (married and filing separate) and $5,000 (married or single parent).
Once I request reimbursement, how long does it take for my funds to be available?
In general, if you have a bank account linked to your account this can take as little as 3 business days for the reimbursement to be posted. However, a check can take up to 7 business days to arrive. Reimbursement is dependent on if the claim documentation is approved for FSA and Commuter accounts.
What do I do if my debit card declines or doesn’t work?
Ensure you have activated the card and have logged into the online portal to accept your terms and conditions. Within your profile, confirm you have the correct and most recent card by verifying the last four digits. Check your balance and verify via your activity that there are no pending transactions you have not accounted for. If you are using the card at a retail pharmacy, ensure the item is coded as FSA eligible. Still unable to determine the cause? Contact the Voya Health Account Services team at (833) 232-4673 or [email protected]. to verify the cause and best solution.
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Flexible Spending Accounts offered by Voya Benefits Company, LLC (in New York, doing business as Voya BC, LLC).
This highlights some of the benefits of a Flexible Spending Account. If there is a discrepancy between this material and the plan documents, the plan documents will govern. Subject to any applicable agreements, Voya and its subcontractors reserve the right to amend or modify the services at any time.
The amount saved in taxes will vary depending on the amount set aside in the account, annual earnings, whether or not Social Security taxes are paid, the number of exemptions and deductions claimed, tax bracket and state and local tax regulations. Check with a tax advisor for information on whether your participation will affect tax savings. None of the information provided should be considered tax or legal advice.