How does your dependent care FSA work?

jlaOK · November 2013

I know that they will only reimburse you for the amount that you have in your account, so in my case DH gets paid every 2 weeks so ~$192 is taken from his paycheck and therefore available for reimbursement. Do they keep record of your claims and reimburse as funds become available? For example, if I claim $1000 will they keep paying me $192 every 2 weeks until I get that $1000 back or do they only pay what's in the account and I have to keep submitting claims to get my money? My FSA seems to do it both ways and I can't figure out which is right. Since daycare is way way more expensive than the $5000 I put in it would be easier if I could just submit claims until I reach $5000 then just know that I'll be reimbursed as funds become available.

Sorry for any confusion in the above and for it being so long.

MrsSMA · November 2013

Mine reimburses as funds become available. I submit claims in jan/feb and get biweekly deposits the rest of the year.

WBMom · November 2013

I have to wait until the money is accumulated before I can make claims. So I submit claims for dependent care FSA once I see a significant amount accumulated - I typically do it a couple times a year.

shakinros · November 2013

Mine reimburses as funds becomes available. I usually wait until a significant amount has accumulated. It's annoying to me to have to deal with small checks every two weeks. I think I will submit claims only 4 times this year, but of course, that does use up our whole $5K!

financialdiva · November 2013

Mine works two ways- either I fill out a form in the beginning of the year that is signed by daycare stating the re-occurring amount and they reimburse as funds become available or

I submit a couple of large claims, and they reimburse as the funds become available. So, for mine, even if I have $100 available, I can claim $1,000 for the PAST weeks (can't be for future weeks) and they reimburse as it's taken from my account.

sdlaura · November 2013

For mine, I have to submit claims. I usually wait until there is a full month amount in there, and then submit the claim.

The healthcare FSA is different for me - I can use the full annual amount on January 1st if I want, even if the money hasn't been taken out of my checks yet.

Pips09 · November 2013

I wait until I have the full $5000 worth of expenses to submit, and then I submit it all at once. I will get a payout of whatever is in the account, and then a bi-weekly payment of whatever is taken out of my check. So they are paying me the full amount as it becomes available (is deposited). I only make the claim once.

mb314 · November 2013

WBMom said:

I have to wait until the money is accumulated before I can make claims. So I submit claims for dependent care FSA once I see a significant amount accumulated - I typically do it a couple times a year.

This.

jlaOK · November 2013

Thanks for the responses. I think I might try doing what @Pips09 and @MrsSMA do for 2014 and submit when I have $5000 to claim (March or April) and then see if they keep reimbursing me as funds become available.

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How does your dependent care FSA work?

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