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Money and Finances
Reply to "Dependent care FSA"
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[quote=Anonymous]Yes, but you are saving because the money that goes into the FSA is pre-tax. And you can submit for reimbursement right away. For example, say you pay $1000 in childcare in January. You can submit for that on Feb 1. You'll probably only have about $400 in your FSA at that point, so you'll get all of that money back right away. When your Feb 15 paycheck goes in with another $200 deposit to the FSA, the FSA will turn around and ship that money right back to you. At least that's how mine works. YMMV. Yes, you're "double paying" while you're waiting for the reimbursement, but the tax savings are worth it. GL! [/quote]
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