Dependent Care Account

If you choose to participate, you can make a pre-tax biweekly contribution ranging from $5 to $192 to your DCA (or $2,500 each, if you are married and file separately). IRS regulations state that if you and your spouse both elect a DCA, whether at Lubrizol or another company, the maximum total contribution per couple is $5,000 if you file a joint tax return. 

If you do not make an election during enrollment, you will not be able to participate in the DCA for the year unless you have a qualified family status change.

Eligible Dependents
Eligible dependents are those you can claim on your federal income tax return as long as they spend at least eight hours each day in your home and if they are either:

  • Under age 13 and living with you; or
  • Physically or mentally disabled, including an elderly parent, disabled child or spouse in your care.

Eligible Dependent Care Expenses
You can use the DCA to pay for a variety of services, including:

  • Child care centers
  • After-school care
  • Licensed nursery school
  • Elder care centers
  • Nurse or caregiver for an elderly relative

For more information about whether an expense is eligible, refer to IRS publication 503 (Child and Dependent Care Expenses) at www.irs.gov.

Use It or Lose It

You must use your Dependent Care Account contributions for eligible expenses incurred during the calendar year in which the election is made.  The IRS does not allow Lubrizol to refund any unused money, so you forfeit any amount remaining in your account at year end.  You must submit all claims for reimbursement by March 31 of the next Plan year.