Dependent Care: You may have money deducted from your pay on a pre-tax basis to cover costs for dependent care. The maximum limit for the 2018 calendar year is $5,000. You save money by paying for these expenses with pre-tax dollars.
Medical/Health Care: You may have money deducted from your pay on a pre-tax basis to cover qualified medical expenses that are not covered by your medical, dental, or vision insurance. The annual medical flexible spending account contribution maximum for 2018, has increased to $2,650. However, because of the carryover rule change, a participant may be able to contribute $2,650 in 2018, plus up to $500 of unused carryover funds from 2017, for a total available amount of $3,150 for 2018.