Your elections into the the Dependent Care FSA become available as they are contributed. As you incur daycare expenses, you will be reimbursed up to the amount that has been contributed thus far in the year. For example: You elect $5,000 and have $208 taken out of each paycheck throughout the year. After two (2) pay periods you submit a daycare claim for $500. Your current dependent care balance is $416. You will be reimbursed $416 immediatley and following your next payroll contribution, you will be reimbursed the remaining $84.
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Understanding Employee Benefit Acronyms: A Quick Guide
Employee benefits often include a lot of acronyms. What do these and other acronyms mean? They are primarily used in ...
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