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Flexible Spending Accts

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  • Flexible Spending Accts

    I have a prospective client who wishes to use her FSA to pay for childcare. I have no problem with this. Years ago when I was using daycare for my own young kids I did so also. However, back then (about 7-8 years ago) we still actually paid the provider with a check & then my husband's co. reimbursed us for what we had paid out-of-pocket. I'm guessing things have evolved & that this is not how it works anymore. So if I accept this client will her company pay me ahead of care? That is what I require. How does it typically work?

  • #2
    Nope I dont think it changed. My parents have the flex spending & they pay me from their account. In Nov they start asking if I will be raising my rates so they can figure out what they need to have put into the flex spending.


    • #3
      My parents use FSA as well. They pay me as usual and they get the reimbursment from their FSA.


      • #4
        I get paid from the company every month. I have projected the cost for the entire year and dad gave this to FSA manager. I get a chack in the mail before the 1st of the month for the entire month. If there is any difference, we just handle it ourselves. They once owed me an extra day, and just paid in cash.


        • #5
          Okay, good to know!


          • #6
            Dependent Care Plans

            You should never sign a form from the parent's employer about dependent care plans unless you have already been paid. The parent can pay you out of her pocket, take the form you signed and give it to her employer. Her employer will then reimburse the parent. This should only take a few days. If you sign the form before you get paid, the parent may walk out on you after collecting from her employer. It has happened. Tom