The IRS limits dependent care contributions to $5000 per tax year for joint returns. Additionally, employers set the medical reimbursement plan limit, which is set up to the IRS maximum of $3300.

No, the IRS requires separate accounts to be funded for medical and dependent care expenses.

You can refer to the IRS Publication 502 for a list of eligible expenses. Additionally, you may find a partial list on the Cafeteria Plan website.

To keep track of your balance, you can set up online access by visiting Cafeteria Plan Advisors.

The plan year runs for twelve months, meaning that employees need to enroll in each year's plan.

You can make changes to your allocated amount annually only during open enrollment. However, the IRS allows certain changes in the event of a "change in status" qualifying event, such as birth, death, marriage, divorce, or a change in you or your spouse's employment. If you terminate your employment, your participation in the plan will cease on your termination date.

The amount allowed to roll over is $660.00. If your 2024 healthcare balance rolls, it will automatically roll into 2025 in the first week of April. This rollover takes place after the 90-day runout, which is when employees submit services incurred in 2024 for reimbursement.

If your plan offers a prepaid debit card, you will receive two cards in the mail upon enrollment. Activate the card and present it when paying for services or expenses. If you cannot use the prepaid debit card or fail to use it, you can submit a manual claim form with itemized receipts after incurring the service/expense. You can submit claims as frequently as you like, but no later than the grace period deadline after your plan year ends, typically within 90 days. Note that dependent care accounts must have funds available before payment can be made.