Dependent Care FSA

The dependent care flexible spending account (FSA), administered by WageWorks, allows you to set aside a portion of your annual earnings on a before-tax basis to pay for dependent care expenses that you incur during the year.

You can contribute between $250 and $5,000 per year, or $2,500 each if you are married and filing separate tax returns. If your spouse does not work, you cannot use the dependent care FSA unless your spouse is disabled, is a full-time student for at least five months of the year, or is looking for work. Your domestic partner and/or your domestic partner’s children are NOT eligible for the dependent care FSA unless they qualify as your legal dependent under federal law.

You must use all contributions by December 31 and file all claims by March 31 of the following year. You cannot carry forward unused contributions to the following year. You must submit a paper claim form for reimbursement of eligible expenses.

What It Covers:

A dependent care FSA covers certain expenses, including:

  • Eligible childcare expenses while you are at work, before and after-school programs, day care, day camp, and pre-school.
  • Elder care (qualifying relative per IRS definition).

 

To learn more about the dependent care FSA and qualifying expenses, click here or call 1-877-924-3967. You must be logged in to My Lowe’s Life to access the WageWorks website. If you are not logged in to My Lowe’s Life, you will be prompted to enter your employee ID and password.