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Reply to "Dependent care FSA"
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[quote=Anonymous][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. [b]Yes, you're "double paying" while you're waiting for the reimbursement, but the tax savings are worth it. GL![/b] [/quote] Yes, that's what I thought I just wasn't sure. Thanks. I'm not a contacts wearer, never had a child, etc. So I've never used an FSA until now somehow! [/quote]
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