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Q re: FSA account for childcare expenses

Amy DrinkwaterAmy Drinkwater
in Babies: 0 - 3 Months

Anyone use this?  My employer offers it and I have a call in to HR but the girl I need to speak with is out today.  I would need to front the money for the charges and then submit a receipt to be reimbursed, right?

Also, anyone know generally how the enrollment period works?  He was born 10/17/08 and I had 31days to add him to my health insurance, but the plan year for FSA is from Jan-Dec.  He started daycare on 1/12 and I've already paid for 1/12/09-1/16/09 and I wondered if I'd be able to be reimbursed for that. . .I'm thinking probably not but thought coverage may be retroactive if the plan year starts Jan 1?

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Re: Q re: FSA account for childcare expenses

  • candrecocandreco
    It's different from company to company, but for ours we use a Dependent Care Account instead of an FSA, and we had to enroll within 60 days of DD's birth or during the regular enrollment period, which was back in November.
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  • TakYelgifTakYelgif

    Yes it works similar to the FSA acct for healthcare costs.

     HR would need to answer your second question.

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  • 6fsn6fsn

    With our plan the FSA is different from dependent care accounts.  You must sign up during open enrollment which is set by the company.

    FSA and dependent care are taken out pretax, but the reimbursement is a little bit different.  The FSA gives us access to all of the money at the beginning of the year, regardless that we haven't paid it all in yet.  With the dependent care we can only be reimbursed what we have already put into the account.

    So- I haven't been paid yet this year so no money has gone into either of my accounts.  However, I have been reimbursed for a doc visit and a prescription already.  I haven't been reimbursed for childcare yet because there is no money in the account.

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