For those wondering if daycare expenses can be covered by your Wellness Spending Account (WSA), the answer depends on the specific categories available in your plan. Here's what you need to know:
Eligibility Under the "Child Care (taxable)" Category
Daycare and other related child care expenses can be eligible under your WSA if your plan includes the "Child Care (taxable)" category. This category encompasses a wide range of child care services, making it a versatile option for parents.
What Is Included?
Under the "Child Care (taxable)" category, you can use your WSA for:
Traditional Daycare: Regular daycare for your child.
Babysitters: Hiring a babysitter for occasional or regular child care.
Summer Camps: Enrolment fees for summer camps that provide child care services.
After-School Care: Programs that take care of your child after school hours.
To determine if these expenses are eligible, check your myHSA dashboard to see if the "Child Care (taxable)" category is included in your specific plan in the "List of Covered Items". Not all WSAs have this category, so it's essential to verify your plan's details.
If your WSA includes the "Child Care (taxable)" category, you can confidently use it to cover a variety of child care expenses, providing flexibility and support for managing your child care needs.
Please note that not all Wellness Spending Accounts (WSAs) include the "Child Care (taxable)" category. Be sure to check your myHSA dashboard to confirm the specific categories available under your plan.