Dependent Care Accounts Sample Clauses
A Dependent Care Accounts clause establishes the terms under which employees can set aside pre-tax earnings to pay for eligible dependent care expenses, such as daycare or elder care. Typically, this clause outlines contribution limits, eligible dependents, and the types of expenses that qualify for reimbursement under the plan. Its core practical function is to provide employees with a tax-advantaged way to manage dependent care costs, thereby reducing their taxable income and supporting work-life balance.
Dependent Care Accounts. An employee may elect to have a pre-determined amount deducted from the employee's paycheck on a pre-tax basis each payroll period to be placed in a dependent care flexible spending account (FSA). Money set aside in an employee's dependent care account may be used to cover eligible day care and nursery school expenses for covered dependents.
Dependent Care Accounts. HealthTrust (or its subcontractor) will administer Dependent Care Accounts for Participants who have elected Dependent Care Account Benefits in accordance with the terms of the Flexible Benefits Plan. HealthTrust will pay claims up to the amount currently credited to the Participant’s Dependent Care Account for the relevant Period of Coverage in accordance with the terms of the Flexible Benefits Plan.