Save using a DCRA
Pay for dependent care with tax-free dollars
Reduce your taxable income amount
To qualify, the dependent care must be:
- essential for you and your spouse to work
- to look for work
- to attend school full-time
How a DCRA works
With a DCRA, you are able to make pre-tax payroll contributions to pay for dependent care expenses.
- Determine the amount you would like to contribute for the year. The maximum annual DCRA election allowed is $5,000 per household. Unlike medical flexible spending accounts, your annual DCRA funds are not available upfront. Funds are only accessible as they are deposited with each payroll deduction.
- Pay dependent care costs out-of-pocket.
- Submit expenses for reimbursement either through the HealthEquity member portal, or by using the DCRA Reimbursement form. Recurring DCRA claims can be scheduled for the duration of the plan year.
Use it or lose it
DCRA funds do not roll over year after year. You must use your DCRA dollars within the plan year or they will be forfeited.
