The Dependent Care Spending Account allows you to set aside money to pay eligible dependent care expenses with pre-tax dollars. You can enroll in Dependent Care Spending Account, even if you are not enrolled in other Newell Brands benefits. You will receive a debit card to pay for eligible expenses. For additional information about the Dependent Care Spending Account, go to the FAQs .
Note: The Dependent Care Spending Account is for child care or elder care expenses. It is NOT for healthcare expenses for your dependents. Use the account to pay for child care or elder care expenses while you and your spouse work or attend school.
Examples of eligible expenses:
- Child care or babysitting
- Before and after-school programs
- Nursery school or preschool
- Adult/senior day care
Refer to IRS Publication 503 for a more complete list of qualified dependent care expenses.
- Dependent Care Spending Account may be used for eligible expenses for children under age 13 and certain elderly or disabled dependents.
- You may contribute up to $5,000 annually ($2,500 maximum if you are married and file separate tax returns), $1,800 annually if you are a Highly Compensated Employee due to IRS regulations. Due to IRS regulations, Highly Compensated Employees may be limited to a lower amount. If this applies, you will see a lower maximum during your enrollment session. This is to comply with plan non-discrimination testing and avoid taxation issues.
- Funds are available as you deposit them into your account.
- Use it or lose it - Dependent Care expenses must be incurred by December 31. Unused funds are forfeited as of December 31.
You can file claims for reimbursement until May 31, 2022.