DCAAccount can save members money

If you have out-of-pocket expenses for child care, elder care or dependent care, you should take advantage of the Dependant Care Advantage Account (DCAAccount).

But you’ve got to hurry — the DCAAccount open enrollment period for the 2003 plan year comes to an end Nov. 15.

The DCAAccount can save members money in two ways: First is your UUP-negotiated benefit for an employer contribution of up to $600. If both spouses are state employees, each is eligible for the employer contribution. Second, any money you have set aside from your pay check — up to $5,000 per family — are dollars not taxed.

A new paperless process makes enrolling quick, easy and secure. Here’s how it works. Just log on to http://www.flexspend.state.ny.us. All the information, instructions forms and the tax calculator to help you identify your potential savings are at your fingertips. You simply complete the online application form. You will receive a confirmation notice by mid-December.

If you prefer not to enroll online, you can call (800) 358-7202 and speak to a customer service representative, who will ask you a few pertinent questions and begin the application process. The customer service representative will then mail you a notification form and a postage paid envelope. You must verify the accuracy of the application information, then sign and return the form immediately to ensure the enrollment process is completed. If you don’t return this form, your enrollment can’t be processed.

Remember the deadline to enroll is Nov. 15 at midnight. No enrollments will be accepted after that date unless your family experiences a change in status. Don’t miss this opportunity.

Here’s how the employer contribution breaks down: If your salary is more than $60,000, you receive $200; $50,000-$60,000, $300; $40,000-$50,000, $400; $30,000-$40,000, $500; and less than $30,000, $600.