Child Care and Elder Care Spending Account

Child Care and Elder Care Spending Account

ABX Air Inc. offers all full-time and part-time employees a Dependent Care Account. Eligibility is after completing 60 days employment with the company. You can also enroll during the annual open enrollment period in November. The best reason for opening a Dependent Care Account is that it can save you money. A Dependent Care Account allows you to pay for work related dependent care expenses with tax free dollars.

For example, if you spend $2,000 a year in work-related child care expenses, you actually have to earn more than $2,000 to pay your child care provider. (For example, you might have to earn $2,500 and pay $500 in taxes to have the $2,000 left for dependent care expenses.)

With the Dependent Care Account Plan, you can use tax free dollars to pay for those same dependent care expenses. More details about the Dependent Care Account can be found in the Summary Plan Description or at www.myuhc.com.

Revised: July 22, 2015.