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NEW LEGISLATIVE PROVISIONS for 2020-2022

On December 27, 2020 the Consolidated Appropriations Act 2021 was passed and includes new and extended benefits for Dependent Care FSA (DCFSA) plans.  

Plan Options Now Available (view our Table of Provisions)

  • NEW! Unlimited Carryover: Plans without a grace period can offer Unlimited Carryover for plan years ending in 2020 and 2021.
  • Extended Grace Period: Plans without carryover can offer the 12-month Grace Period extension for plan years ending in 2020 and 2021.
  • Unrestricted Midyear Election Changes: Plans can accept election changes from participants at any time without a change in status for plan years ending in 2021.
  • Age Limit Increase: Plans can accept cover DCFSA reimbursements for dependent children up to age 14 (formerly 13) through 2021 plan year.
Learn about Healthcare FSA provisions.

A Dependent Care Flexible Spending Account (DCFSA) provides significant savings to employees and employers alike. Employees set aside funds on a pretax basis to spend on qualifying dependent care expenses throughout the plan year. Employers save on payroll taxes for every dollar of employee participation, often enough to cover the plan’s cost. 

Why offer a Dependent Care FSA to employees?

Parents with children in full-time child care spend a great deal of money each year, on average it costs:

  • $15,000 annually for infant care
  • $11,000 annually for toddlers
  • $4,400 for after school care
With a DCFSA, working parents can save an average of $100 a month. Learn how in this video! (~2 minutes)
 

How does a Dependent Care FSA work?

Eligible expenses

Use your DCFSA to pay for a variety of care services including preschool, summer day camp, before/after school programs and child or adult day care.

The only caveat is that the care must be provided as you (and your spouse if applicable) are working, looking for work or attending school full time.

LEARN MORE

 

Qualified Events & Enrollment

Participants can enroll during benefits open enrollment period each year.

In addition, IRS regulations allow participants to change their annual election or enroll in a DCFSA when there is a change in cost or coverage within 30 days of a qualifying event.

LEARN MORE

And with TASC - it's fast and easy to take care of dependent care expenses!

We've got three easy ways for participants to pay.

 
  1. Swipe the TASC Card. If the care provider accepts Mastercard, the TASC Card can be swiped and the payment is automatically paid from Dependent Care FSA funds.
  2. Use the TASC app and Request a Reimbursement or take a picture of the invoice, enter the amount to pay, and submit via Picture to Pay and we'll pay it for you!
  3. Submit a Request for Reimbursement online.

For Sales: Call TASC at 1-888-595-2261 to learn more or email iwantTASC@tasconline.com.

Current FSA clients & participants: Please sign in or call 1-800-422-4661 for assistance.

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