The following tables sumarize key differences between the Health Care Spending Account (HCSA) and the Dependent Care Spending Account (DCSA), as well as the Health Savings Account (HSA) for Consumer Choice medical plan participants.
|
Health Care Spending Account (HCSA) |
Dependent Care Spending Account (DCSA) |
Health Savings Account (HSA) for Consumer Choice Medical Plan Participants | |
| Pre-Tax Employee Contributions |
Yes |
Yes (see chart below) |
Yes |
| Source of Funds |
Employee Contributions |
Employee Contributions |
$45 per Month from ACS + Employee Contributions |
| Maximum Annual Employee Contributions* |
$5,000 |
See chart below. |
$2,460 |
| Rollover of Unused Funds Allowed |
No |
No |
Yes |
|
* The information provided herein is considered general in nature. Rules vary based on marital status. Refer to your Summary Plan Description and your tax advisor for additional information. |
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|
Dependent Care Spending Account Contribution Limits |
|
| If you are… | You may contribute up to… |
| Single, or married and file a joint tax return, and your spouse does not participate in a DCSA | $5,000 |
| Married and file a joint tax return, and your spouse also participates in a DCSA | $5,000 (you and your spouse combined for the year) |
| Married and your spouse earns less than $5,000 per year | Any amount up to your spouse’s annual earnings |
| Married, and you and your spouse file separate tax returns | $2,500 for the year (if your spouse has access to a separate DCSA, he or she may also contribute $2,500 to his or her DCSA) |
| Married and file a joint tax return, and your spouse is a student or disabled | $3,000 (for one dependent) $5,000 (for two or more dependents) |
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Questions about your employee benefits or other Human Resources issues? Contact the Workplace Solutions Center at (888) 471-2271.