Dependent Care Flexible Spending Account
A specific type of (FSA) An account that helps fund your share of medical expenses specified by your employer. This type of account is fully funded by employers and does not allow employee contributions. More that allows you to save for dependent care expenses. You must use the money to cover out-of-pocket expenses related to care of dependent children or parents that allow you to go to work. You can contribute money to the account and withdraw it without paying taxes. The contributions can be used only in the year you made the contribution (i.e., you use it or lose it).
I am also a retired property-casualty A professional who assesses and manages the risks of financial investments, insurance policies and other potentially risky ventures. Source: www.investopedia.com/terms/a/actuary.asp More (someone who works with the math and statistics related to insurance). I spent a significant portion of my career building statistical models of all of the financial risks of an insurance company and interpreting their findings to help senior management make better financial decisions. I retired in my late 50’s, which one of my daughter’s friends thought clearly qualified me to write this blog. Read more about Susie Q