Another DCA question — The Bump
North Carolina Babies

Another DCA question

How exactly does it work for you?  We're about to start open enrollment, so I'll attend an info session to learn how it works, but I figured I'd get just as good info from other moms.

For my flex account, I get a Visa card that I can use to charge any doctors visits or prescriptions.  Then, I just fax documentation of my expense to them and we're good.  Or if I use my own card, I can fax documentation of the expense and they'll mail me a check.

So is the DCA similar?  Do you get a card to use?  Do you have to get a receipt from your daycare?  Are there any weird issues with a DCA that I should consider?


Re: Another DCA question

  • It is similar, but the main difference is that you can only take out what you have put in.

    I have a form from my insurance company that requires the day care information, a signature, their Tax ID number, and a listing of the dates she attended and what I paid. ?I send that to them and they reimburse expenses that are already put in. ?If there are extra expenses, they send me checks as the money goes in until it is paid.?

  • So if $5k is the max, does that mean that you are putting in $416.67 per month?  So you get reimbursed $416.67 and you pay the rest out of pocket each month? 

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  • Correct. ?I submit monthly after I have paid what is in the account and then pay the rest out of pocket for that month and repeat. ?It is annoying they don't allow you to just do it like FSA, but I am sure they have their reasons.
  • Yep, that's basically correct if you're contributing the max. What Evans was saying is that with a Heatlh FSA, if you decide to contribute an annual amount of, say $1000, you have that full $1000 available on Jan 1. With the DCA, you only have available what has actually come out of your paycheck.

    If your daycare accepts visa/mc (whatever your debit card is), you can just use that for payment (and then pay the remaining balance out of pocket). I'd definitely hang on to any receipts, etc, though, even if you do use the debit card, in case your account is ever audited.

    photo c107d4aa-9909-4a33-b3bd-bd94168bd5fc.jpg

  • Thanks ya'll.... I want to do this, but it already seems like a hassle.  I always just write one check at the 1st of the month, and then I'm done.  This seems like it's going to take a lot more work.  I hope it ends up being worth it.
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