If you have a dependent care flexible spending account, you can use it to pay for summer day camp tuition.
Planning summertime day care can be stressful — especially if your sitter gets sick, or your nursery closes temporarily because of staffing issues.
If you find yourself unexpectedly trying to arrange a few weeks of summer day camp, or even if you’ve made your summer camp arrangements well in advance, you can relieve some of that stress if you have a dependent care flexible spending account (FSA). You can use funds from your account to offset some of those tuition expenses.
A dependent care FSA is one of two types of FSAs (the other type is a healthcare FSA), offered by the Board of Pensions in partnership with Further. The overall idea of a dependent care FSA is to set aside pretax dollars to pay for eligible child and elder expenses necessary for you to work. You can use the account to reimburse expenses that you would normally pay for anyway, and take advantage of the tax savings under IRS rules.
In addition to reimbursing expenses for summer day camp, you can reimburse your expenses for nannies, babysitters, and other day care through your dependent care FSA. Remember that certain expenses are not eligible for reimbursement through a dependent care FSA, like costs for kindergarten or private school, overnight camp, or expenses for non-disabled children 13 and older.
Read more about using dependent care flexible spending accounts.