Mercury offers you the Dependent Care Flexible Spending Account (FSA) and encourages you to take full advantage of the money-saving potential by paying for qualified child and elder care expenses with tax-advantaged accounts. A Dependent Care FSA is available to all employees. You can contribute up to $5,000 for the year through pre-tax payroll deductions to help cover your eligible dependent care expenses, including child care for children up to age 13 and care for dependent elders.
You can enroll in the Dependent Care FSA on UKG as a new hire, during Open Enrollment, or if you have a qualifying life event. Note: You must enroll in Dependent Care FSA each Open Enrollment if you want to contribute the next year, even if you already participate.
*Contributions are not subject to federal tax. However, FSA contributions are subject to state tax in NJ. Consult with your tax advisor to understand the potential tax consequences of enrolling in an FSA.
Choose
Choose your contribution amount when you enroll. You can only change it during the year if your personal situation changes, so estimate carefully.
Contribute
Your annual contribution will be divided into equal deductions from each paycheck. You can only use money that has been deposited into your account.
Spend
Log in to PayFlex to request reimbursement for payments you’ve made.
Use It Up
With FSA money, you “use it or lose it.” Unused money does not carry over at the end of each year — use it or lose it!
An eligible dependent is a person who shares the same primary place of residence with you for more than six months each year and is:
You can use your Dependent Care FSA for expenses you pay that allow you (or you and your spouse, if you’re married) to work, such as:
Here are some examples of ineligible expenses:
To be reimbursed, you must save your receipts and submit a claim for any eligible expenses. Reimbursements are generally paid through direct deposit or check by a third party administrator. You do not pay federal, state income, or Social Security taxes on FSA expenses.