Reply to OMG, just realized I forgot to claim our FSA dependent care funds for 2016

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Reply to "OMG, just realized I forgot to claim our FSA dependent care funds for 2016"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So what happens to unclaimed money? [/quote]

The companies that run this scam get to keep it.  That's how they make money.   The ideal way to do this would be to allow everyone with a child upto 14 years (or 18 or whatever) a deduction of $2500 for childcare.  No overheard, easy to prove, etc.  However, that's not how it's done.  Companies and their friends in congress/senate implement this scam/scheme where you deposit money with them and request it back.  If you don't ask for it back in time, you lose it![/quote]

Agree with this - but on the medical side, there's a way for the company to be out money, since you can use every penny of that amount on day one of the year.  If you quit two months in, there's nothing they can do to request the money back.  In theory, it evens out, but the dependent care one doesn't have the same loophole.[/quote]

Same concept though.  They make money on people not claiming.  The rules should just allow each person to claim a certain amount.. Maybe not $5K but some lower number based on what people have actually claimed over the past many years instead of enriching some scammers.[/quote]

Why should my amount be lowered because others can't remember to make their claims?[/quote]

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