If you missed Dependent Care enrollment or would like to make changes to your 2020 election amount, GOOD NEWS! changes are now permitted due to COVID-19.
Millions of people rely on childcare to be able to work, while others are responsible for older parents or disabled family members. A Dependent Care FSA allows you to set aside pre-tax dollars for qualifying care expenses. Below are a few examples that qualify as a life change under COVID-19:
Your child’s summer camp has been cancelled. You would like to remove yourself from the plan until you require childcare again.
The grandparents used to watch over your children, but due to shelter in place orders, you will need to hire a nanny in their place.
You are now working from home, and your children are not in school due to closures. You need to increase your nanny’s hours because the kids are home all day.
Please check with your employer regarding enrollment and payroll procedures.