1 © 2014-2015 wageworks, inc. all rights reserved. this document contains proprietary and/or...
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
Dependent Care FSAFlexible Spending Account
Presenter NameDate
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
What is a Dependent Care FSA?
• Pre-tax account that pays for eligible dependent care expenses while you work: Preschool or before/after school programs Summer day camp Elder day care
• Smart, simple way to save money while taking care of loved ones so you can work
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
Why You Need It
• Save an average of 30% on the dependent care you need
• Reduce your overall tax burden since funds are withdrawn from your paycheck before taxes are deducted
• Take advantage of several convenient, no-hassle payment and reimbursement options
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
How It Works
① Determine how much to contribute Estimate how much you’ll need Elect how much to contribute
② Funds are taken from your paycheck before taxes
③ Start saving up to hundreds of dollars in one year Savings result from lower overall taxes
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
How You Use It
• Pay My Provider Directly pay your
provider instantly, directly, and online
• Pay Me Back Get reimbursed quickly
for payments you make
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
Who Qualifies?
Qualifying dependents include:• Dependent child* under the age of
13 who lives with you for more than half of the year; or
• A spouse or other tax dependent who resides in the house a minimum of eight hours a day and requires assistance with day-to-day living.
*In the case of divorce, IRS guidelines state that a child is a qualified dependent of the "custodial parent."
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
How You Manage It
Use WageWorks EZ Receipts®
• File a claim and get reimbursed quickly• View transactions and benefit account
balances using a single login• Skip the receipt and have your provider
sign receipts using your mobile device• Receive confirmation emails when claims
are received, processed, or paid• Receive text messages when card
verification is required, a transaction is denied, or a claim has been processed
Or online at WageWorks.com
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
How Much You Can Contribute
• Maximum of $5,000 IRS sets the contributions guidelines
• Changes to your election amount can be made only if there is a: Change in legal marital status Change in number of dependents due
to birth, adoption, or death Change in employment status Change in cost or coverage charges
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
Eligible Expenses
Use your Dependent Care FSA to pay for:• Before/after school care• Au pair services• Extended day programs• Preschool/nursery
school• Summer day camp• Elder day care
Ineligible expenses include:• Overnight camps• Kindergarten or
higher-grade tuition• Non-work-related
day care• Long-term elder care
services
See www.wageworks.com/mydcfsa for more information on eligible expenses
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
Why Enroll?
• Tax savings
• Wide range of covered expenses
• Easy access
• Flexible options
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
How You Get It
Enroll online or by phone:• Follow [Employer Name’s] instructions• Visit [Insert employer’s benefits url]• Or call [Insert employer enrollment phone #]
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© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
®
© 2014 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.
© 2014-2015 WageWorks, Inc. All rights reserved. This document contains proprietary and/or confidential work product that belongs to WageWorks, Inc. and may not be used, reproduced, modified, displayed or distributed without the prior written consent of WageWorks, Inc.