• Information about Tax-Sheltering the Tuition

    A family's tax liability may be reduced for tuition paid to the Employee Child Care. There are two options for a possible tax credit: 

    1. the dependent care tax credit that may be taken at the time you file your taxes; or
    2. the dependent care flexible spending account (FSA) through the Plano ISD Flexible Benefit Plan.

    If you select a dependent care FSA, that may eliminate your ability to take the additional tax credit when filing your taxes. Please discuss this with a tax or financial advisor to determine which option is best for you.

    For further explanation or assistance with the dependent care FSA, please contact the Plano ISD benefits department at (469) 752-8138. 
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  • When can I sign up for the dependent care flexible spending account (FSA)?

    There are two times when you may sign up:

    1. During the annual open enrollment period. The account would start on the following September 1
    2. If you have one of these qualifying change in status events and you contact benefits within 31 days of the event:
      • an increase in the number of children for whom you are paying tuition
      • changing to a new dependent care provider
      • a change in the cost of your dependent care (if the provider is not a relative)
      • losing a dependent care FSA that you previously had with your spouse's employer

    Once you have signed up, you may not cancel the dependent care FSA until the next annual open enrollment period, or until you have a change in status event that qualifies for canceling the FSA.

  • If I already have the dependent care FSA, when can I change the amount I am paying into the account?

    Changing your FSA amount may be done during the annual open enrollment period, or if you have a qualifying change in status event and you contact benefits within 31 days of the event. The qualifying events may be different, depending on whether you want to increase or decrease your FSA amount.

  • How do I calculate the amount to put into the dependent care FSA?

    It is important to remember that the Employee Child Care Center year and tuition is based on 10 months, August through May. However, the FSA year is 12 months, September through August. If you are signing up for the FSA during the annual open enrollment period, you must consider about how much you will spend for dependent care tuition in the future 12-month period of September through August (the FSA year). For example, consider that tuition for September to May is $100 per month (total 9 x $100 = $900), then you would elect $75 as your monthly FSA payroll deduction, which will give you a total of $900 in your FSA for that year ($75 x 12 monthly deductions from September through August).

    Remember: do not put more into the FSA than you will be able to claim back in dependent care expenses because unclaimed amounts are lost.

  • How do I file claims on the dependent care FSA?

    The new Eleyo software provides a detailed receipt of paid expenses at the Employee Child Care Centers, which you must send to the FSA claims office using the claim form on the district's website. The FSA will only reimburse you up to the currently available balance in your account.

    Please note in some cases, the tuition and the dependent care FSA contribution will both be deducted from your paycheck. Then you would submit the receipt to the FSA for reimbursement.