BRI Tulsa

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Cobra Accounts

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  • Allows employees to pay out-of-pocket qualified dependent care costs tax free
  • Expenses must be incurred to enable the employee and spouse, if married, to be gainfully employed
  • Qualified dependent generally is a child age 12 or younger
  • Debit card available for instant claim reimbursement
  • Non-debit card claims processed weekly and paid by direct deposit or check to the employee participant
  • Account is generally funded by the employee only but the employer may also make contributions
  • Unused balances at the end of the year cannot be rolled over to the next year
  • Employers and employees both save taxes