Any one in HR on? Flex spending question

REOM

I am so angry with my H.  He didn't sign up for Flex Spending this year b/c he "didn't see it" when he was declining his company's medical benefits. I am so sick of being the only responsible one and having to do f*ing everything.

That said, will we be able to sign up for Flex Spending in March when we have a life changing event (that is, my insurance ending) and sign up for his medical benefits?

We are going to have well over the max of childcare expenses this year, and I am going to kill him if not.

 Thanks

squishywife

not sure - but i had to tell you that your siggie is so cute and i can't believe how grown up gina looks!

A-baybride

If they're going to allow him to sign up for insurance in March, I'd think they'd allow flex spending at the same time.  I'd check directly with your H's company, because I've found that different companies have slightly different rules. 

Last year when I switched to part-time, my company considered it a qualifying "event" and let me change my benefits mid-year, but DH's did not (so he says...) so we were stuck with expensive premiums for the rest of the year.

Flem052204

Did you and I exchange posts about this a few months back?  I exchanged emails with someoneone who wanted to use flex spending to pay for day care a couple days a week.  But that poster was neither employed or a full time student.  I can't remember if that was you.

 

Anyway, flex spending can ONLY be used to pay for childcare while the custodial parent works or is in school.  If you indicate withdrawals from a FSA but you don't have reported income for a job or apply for credits for tuition paid, it will trigger an audit.  If you do have money already deposited into an FSA, you can get it as a reimbursement for childcare but you don't get the tax benefits for it--you will have to file a worksheet with your taxes and pay the taxes on the amount just like you would if you had used after-tax dollars (take home pay) to pay for your child care.

Just wanted to warn you up front--since your insurance is ending, I am assuming you are no longer working?  So you may be better off that your DH is not contributing to a childcare FSA.

REOM

I hope so A-baybride. I think I am just more POed that I have to do everything like this, or it doesn't get done correctly, you know? I just wish he was a little more financially responsible.

Thanks for the compliment squishy   She is outta control big. It's all downhill after 2!

REOM

Flem, yes, that was me.

We are eligible to use Flex Spending b/c I worked from Jan 08-June 08 and will work from Sept 09-Dec 09.  We will use over the 5K max in that 4 month period.  So although I am not working for a period of 14 months, I won't be a full calendar year without income/child care.

Flem052204

REOM:

Flem, yes, that was me.

We are eligible to use Flex Spending b/c I worked from Jan 08-June 08 and will work from Sept 09-Dec 09.  We will use over the 5K max in that 4 month period.  So although I am not working for a period of 14 months, I won't be a full calendar year without income/child care.

Wow!!!  I was thinking that if your DH were contributing the max amount while you were not working, there was no way you would be able to use all of your contributions.  Childcare costs A LOT where you live.  In a 4 month period, I would pay about $1500! And that's for 40 hours a week!

 

REOM

Flem052204:

REOM:

Flem, yes, that was me.

We are eligible to use Flex Spending b/c I worked from Jan 08-June 08 and will work from Sept 09-Dec 09.  We will use over the 5K max in that 4 month period.  So although I am not working for a period of 14 months, I won't be a full calendar year without income/child care.

Wow!!!  I was thinking that if your DH were contributing the max amount while you were not working, there was no way you would be able to use all of your contributions.  Childcare costs A LOT where you live.  In a 4 month period, I would pay about $1500! And that's for 40 hours a week!

 

I know. We live about 12 miles west of NYC, very high COL. It will be 2K per month for a baby and toddler. That will be a big chunk of my paycheck but we need the benefits from my job. Mine are free and excellent- H's are expensive and minimal.

Another reason I am mad he "forgot" to sign up for them again. Every little bit helps. I am holding out for March.

MelisAnne

I'm in HR, our flex spending account is governed by an IRS rule.  Ours goes through the calendar year and employees can only newly enroll when they are hired or during open enrollment.  They can change their deduction for certain reasons (like child care cost increasing/decreasing) but only if they are currently enrolling.  I hope your H's isn't like that!  GL!