SAVE MONEY ON TAXES
Enroll in a Day Care Flexible Spending Account (FSA) to set aside money from your paycheck on a pre-tax basis to help you save money on taxes.
| Day Care FSA | |
|---|---|
| 2023 IRS limits | $5,000 ($2,500 if married filing separately) |
| Eligible expenses | Childcare and adult care expenses - full list |
| Who can use it? | You can use funds to pay for an eligible dependent's expenses |
| Which medical plan do I have to be enrolled in? | N/A - not associated with medical plan |
| When can I incur expenses? | January 1 - December 31 |
| Is there a rollover or grace period? | No |
| More information | FAQs |
**Employees who opt-out of Marvell’s insurance may enroll in a Health Care FSA only if they are not enrolled in an HDHP/HSA outside of Marvell
Learn More About Day Care FSA
How Does Day Care FSA Work?
Enrollment: During your New Hire Enrollment, Open Enrollment, or when you are updating your benefits due to a qualifying life event, you will be asked for the amount you would like to contribute towards your Day Care FSA for that calendar year. The amount you choose will be divided by the number of paychecks remaining in the calendar year.
Maximum Contributions: IRS maximums for 2023 are:
- Day Care FSA: $5,000 ($2,500 if married but filing tax returns separately)
Login to Your Account
You can access your account two ways:
- Okta SSO (preferred method). Upon first login you will be asked to enter your birthday and create a username.
- Create a manual login at www.naviabenefits.com: click on "Register" in the upper-right corner of the screen and select "I'm a participant."
- The 3-character employer code is: MRV.
- Shortly after completing the online form you will receive an email confirmation with a link to create a password.
Eligible Expenses
View a list of eligible and ineligible expenses for reimbursement through the Day Care FSA Plan.
When You Incur an Expense
Pay for incurred expenses two ways:
- The Navia Benefits Card: Pay using your Navia debit card linked to your Day Care FSA account (you will automatically be sent a debit card upon enrollment and may request additional cards via your Navia account).
- Online: Pay out-of-pocket and then submit a claim to be reimbursed through your online account or mobile app, and your reimbursement will be either mailed as check or directly deposited into your bank account.
- Mobile Pay: Navia Mobile Pay is a payment option that allows you to pay for eligible benefit expenses digitally, through your mobile devices. Learn more here.
Use-It-or-Lose-It
You must incur all eligible expenses by the end of the plan year (December 31). You will have until March 31 of the following year to submit expenses incurred from January 1 and December 31 for reimbursement. Any money left unspent or unreimbursed in your account after March 31 will be forfeited (no rollover option).
Because the Day Care FSA's are “use-it-or-lose-it” it’s important to choose your annual election amount carefully.
Managing Your FSA
Manage your Day Care FSA via the Navia website or mobile app. View account balance and transactions, submit claims and receive claim tracking alerts, and edit your account profile.
Debit Card
Use the Navia Benefits Card for a quick and easy way to pay for eligible Day Care FSA expenses. You will receive one card from Navia that will link to your Health Care FSA, Day Care FSA and Commuter Benefit, as applicable.
Why Do You Need It
- Pay eligible Day Care FSA expenses directly from your Day Care FSA account - just swipe and go
- Enjoy the convenience of smart card functionality - use the same card for your Navia Health Care FSA, Navia Day Care FSA, and Navia Commuter Benefits
How Do You Use It
The IRS requires that all card purchases are verified as eligible expenses.
Most of your purchases will not require the submission of receipts. However, always keep your receipts just in case you are required to provide verification.
Find more information about using the Navia Benefits Card here.
How Do You Get It
Your card will be mailed to you automatically after you sign up for Day Care FSA during your Open Enrollment period or as a new hire. You can request extra cards for yourself, spouse, or adult children through your online Day Care FSA account.
Find & Save on Childcare (Kinside)
Through Navia, you have access to Kinside, a program to help you find local care, compare discounts exclusive to Marvell employees, and pay providers online using your Day Care FSA dollars. Get started by going to https://join.kinside.com/marvell to create an account using your Marvell email address. Learn more here.
