DH starts a new job soon, and will be eligible for a FSA. I have never used one, but from what I read, the limit for 2015 was $2,550.
Is that limit per working spouse, so can we defer $5,100 for the year? Or would I have to also have my own FSA to defer the full amount?
GOLD / wonderful pomegranate / 28905 posts
Yes, you would need your own. That amount is what he can take out pretax of his paycheck. Also, make sure dependent care FSA is an option. There's FSA for medical expenses which is completely different.
grapefruit / 4988 posts
For childcare, it is 5k per family (doesn't matter if both spouses work). I believe you are referring to the medical one, which is per working spouse.
GOLD / wonderful coconut / 33402 posts
The limit is $5,000 a year. Only one parent can do the child care FSA.
pear / 1593 posts
@catlady: @Smurfette: ok gotcha! yep, I was confusing the two. he has option for both though.
GOLD / wonderful olive / 19030 posts
At my work we have separate FSA for medical and for dependent care. According to my work, a married couple is only allowed to take up to 5K of FSA for dependent care. My understanding on medical FSA is each individual can defer $2,550, for a total of $5100. It's also use it or lose it so make sure to defer carefully.
pear / 1770 posts
Both parents can contribute to childcare FSAs (if they have them), but it's a max of $5k per family if you're married filing jointly. If you're married filing separately it's a max of $2,500 per parent.
pear / 1593 posts
@LuLu Mom: oh trust me, the $5k limit would be used easily, that is less than half what we pay annually for daycare 
pear / 1770 posts
@runnerd: Yep, it's a $5k max regardless of how many kids. And yes, it's depressingly little!
pear / 1593 posts
@ms.line: haha yes on the depressingly little, but I'm excited the option for next year!
GOLD / wonderful olive / 19030 posts
@runnerd: Yep us too, I was thinking more in regards to medical. But DH has a FSA for dependent and we both can only do 2500, not each 5500 which would be better with 2 kids in daycare.
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