Time’s running out to use the money in your Flexible Spending Account (FSA). County employees have until March 15 to spend remaining funds in their dependent care FSA and March 31 to submit paper claims and receipts to ConnectYourCare for covered expenses in the 2018 plan year.
Flexible Spending Accounts
Cook County offers easy to use flexible spending accounts that allow employees to pay for healthcare, childcare, elder care and commuter benefits using pre tax money deducted from your paycheck.
When you are estimating your dependent care expenses for the year, keep in mind you can set up a Flexible Spending Account (FSA) to pay for eligible expenses. When you enroll, you decide how much you will set aside from your pay before taxes.
Dependent Care FSA
If you pay to care for dependents while at work, use these funds to cover eligible expenses for day care, babysitting, nursery school and senior day care. You can set aside up to $5,000 to help with dependent care costs that aren’t covered by insurance. You must submit claims forms for dependent care FSA reimbursement.
By federal law, any funds remaining in these accounts at the end of the grace period cannot be rolled over or be refunded.