Flexible Spending Accounts
Flexible Spending Accounts help you put money away, tax-free, to pay for eligible healthcare and dependent day care expenses.
Dependent Day Care FSA
You can contribute up to $5,000 a year to the Dependent Day Care FSA to pay for eligible childcare or caregiver expenses while you work. If you are married, your dependent care expenses can't be reimbursed from your FSA unless your spouse works, is a full-time student, or is disabled. You'll need to submit a claim form and a receipt to be reimbursed from this account.
Your 2012 FSA covers expenses incurred from January 1, 2012, through December 31, 2012. You have until April 30, 2013, to request reimbursement.
Eligible expenses include:
Click here for the full list of eligible expenses.
You may be required to submit evidence that an expense is a qualifying dependent care expense if requested by Cisco.
Expenses not eligible
Some expenses are not eligible for the Dependent Care FSA. These include: private school tuition, placement fees (for getting a baby-sitter), transportation costs, and registration fees.
You should consult with your tax advisor to determine whether the federal child care tax credit may be more beneficial than participation in the Dependent Day Care FSA.