Are both you and your SO able to max out your own FSA benefits for daycare? We file jointly.
-
Nope. Just one
-
@Smurfette: boo, it still helps though. Thanks
-
I think it is a per family limit of $5k.
-
No, only 5K per family.
-
I'm a govt employee and it's a separate $5,000 DFSA for dependent care. I use it for my mom to babysit DD. It's great! Separately, I have the FSA for healthcare. Oh, I think I read t wrong. DH does not have his own FSA. I'm not sure if he could, he's not a govt employee.
-
It's per family and not all employers participate.
-
@dc yoga bee: DH is gov't and I'm private sector. I know both of us have access to one. The last time I used my HSA was when I had braces. With a child it makes sense to fund that as well.
-
The limit is per family, so even if you both have access to one, only one of you can do it, or you'd both need to split it and not go over the $5k limit.
-
New question...can you max FSA for dependent care and also fund or max out the HSA?
-
@Mrs. Lemon-Lime: Yes, you can max both. HSA is for health-related expenses. You could also have a medical FSA (but that's use it or lose it) and a dependent care FSA (also known as DCA).
For us, DH is on his own medical plan and has an HSA that we use for the whole family's expenses. We skip the FSA because it's not necessary, and I fully fund the DCA so we just have one place to file claims to.
-
@ShootingStar: ok thanks!
-
@ShootingStar: @Mrs. Lemon-Lime: you can't have a medical FSA and a HSA, but you can have a dependent care FSA with either.
-
@mrs.shinerbock: Are you sure you can't legally have both? I didn't think there were any actual rules around it. But I guess it doesn't really matter since to me the HSA always trumps the FSA :).
-
@Mrs. Lemon-Lime: only my job offers it, but I max it out with only 1 child. Now that LO2 is here, part off me wishes I could contribute more.
-
@mrs.shinerbock: I'm thinking a HSA (medical) and DCA (daycare) is the way to go. Stepping away from FSA acronym since that's too general.
-
@ShootingStar: I believe that in order to have an non-dependent care FSA and an HSA, the FSA is limited use for vision and dental only. That is what my employer offers.
Reply
Subscribe to our newsletter
- Google Plus
- Stumbleupon
- Twitter
- Facebook
- Pinterest
- Favorite0
16 comments