What is DeCAP?
What
is the main purpose of this program?
When can I enroll?
How
much can I put aside in my spending account?
Who are considered eligible
dependents?
What types of expenses are covered?
How
can I benefit by joining this program?
How does this program work?
Will I
receive a statement of my account?
What happens if I do not submit claims
for the amount I contribute?
How can I get further information about
this program?
What is DeCAP?
The Dependent Care Assistance Program (DeCAP) is a way to pay for dependent care expenses with before-tax dollars.
Download FSA Program Forms &
Brochures
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What is the main purpose of this program?
This program enables you to provide care for your
dependents while you and your spouse work or attend school full-time.
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When can I enroll?
Generally, employees can enroll during the annual Open
Enrollment Period from the end of September through the end of November prior to
the Plan Year. Employees can also enroll mid-year only if a Qualifying
Event occurs.
Learn more about Qualifying Events
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How much can I put aside in my DeCAP
account?
The minimum contribution is $500; the
maximum is $5,000.
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Who are considered eligible dependents?
A child under age 13 and any dependent who is mentally or
physically incapable of caring for himself/herself and lives with you for more
than half of the year, such as a dependent child or parent, handicapped child of
any age, or an incapacitated spouse.
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What types of expenses are covered?
This program pays for babysitting, nursery school,
preschool, summer day camp, before- and after-school programs, and other
dependent care.
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How can I benefit by joining this program?
By enrolling in DeCAP, you not only plan for anticipated
dependent care expenses but also reduce your gross income for federal and Social
Security tax purposes. The end result is that you save on your taxes.
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How does this program work?
First, you estimate your
pre-tax contribution to your account for the Plan
Year. Second, you fund your account through automatic payroll deductions. Finally, you
submit a claim for your eligible expenses and a reimbursement check is sent
to your home address from your DeCAP account or the reimbursement is
automatically deposited into a bank account you have chosen.
Download FSA Program Forms &
Brochures
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Will I receive a statement of my account?
Each participant will receive a personal account statement
every month.
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What happens if I do not submit claims for the amount I
contribute?
According to IRS rules, amounts not used by the end of the Plan Year will be forfeited.
Learn more about the
forfeiture rules
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How can I get further information on this
program?
Contact the FSA Administrative Office at (212) 306-7760.
Learn more about DeCAP
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