Use this screen to set up rules for dependent care flexible spending accounts. You can enter the plan year, the date range for the plan, and the maximum amount an employee may elect for the year for dependent care expenses.
You cannot access this screen unless you selected the Dependent Care Flexible Spending Accounts check box on the Configure Benefit Settings screen. Use this screen to enter new plan years for dependent care flexible spending accounts, or to update existing plan years. You must set up dependent care flexible spending account records before you can link them with employees on the Manage Employee Dependent Care FSA Elections screen.
Enter the year, in YYYY format, that you wish to set up. The year must be between 1901 and 2078. When you enter this year, the Start Date defaults to 01/01/YYYY and the End Date defaults to 12/31/YYYY. This field is required.
Use the date fields in this group box to enter the start and end dates for the plan year you are setting up. The date range should be a calendar year and cannot overlap existing plan years. You also must use this group box to enter the maximum dollar amount any employee can elect for the plan year for dependent care expenses.
This field displays the default starting date for the plan year you have entered. To change this date, enter a new date, in MM/DD/YYYY format, on which this plan year begins.
This field displays the default ending date for the plan year you have entered. To change this date, enter a new date, in MM/DD/YYYY format, on which this plan year ends.
Enter the maximum dollar amount any employee can elect for dependent care expenses for this plan year.
Enter the number of grace period days for this plan year.