The Dependent Care Assistance Plan - DCAP (Dependent Care Flexible Spending Accounts - FSA) permits an employee to pay for his or her qualifying Dependent Care Expenses for Children under the age of 13 or day expenses for disabled dependents on a pre-tax basis. Eligible expenses are described in the FSA Information Booklet. The amount of Dependent Care Expenses reimbursement cannot exceed the maximum amount specified in Internal Revenue Code Section 129. The maximum amount is $5,000 for a calendar year.
Related Links:Eligible Daycare Expenses