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:
- Childcare 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.
For more information on the Dependent Care Account, contact Included Health.
