A dependent day care FSA allows you to pay for eligible day care or elder care expenses while you are working. You can set aside up to $5,000 each plan year on a pre-tax basis to cover the cost of dependent day care expenses.
The amount you contribute to a dependent day care FSA cannot be greater than your income or your spouse’s income, whichever is less. If your spouse contributes to a dependent day care FSA through his or her employer, your combined contributions may not exceed $5,000.
FSAs are administered by Optum Financial.