| Posted By |
Message |
jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
|
So unfair!
So the end of last year when DH and I were selecting our benefits for 2008, DH decided to do the flexible spending account for when DS goes into daycare. Right now my mom watches him, but he will be going to daycare around August and we thought it would be a good idea to put the money aside and save on the taxes.
DH and I work for the same company and this year they offered voluntary separation since we are going through layoffs and DH decided to take it since he has 10 years and would get a great separation package.
Well, it turns out that he has already contributed about $1200 into the flexible spending account and he is going to lose it since he is leaving the company! 
I am so pi ssed off that they will not give us our money back. What a world we live in when you lose your own money because of a technicality. 
|
Posted 3/13/08 11:29 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
lbelle821
Arghhhhh
Member since 2/06 5285 total posts
Name:
Lisa
|
Re: So unfair!
OMG, that seems so wrong. I can't even believe it actually. Did you try calling the provider too? I can see them not giving it back to you but you still should be able to use it as long as it is before 2008 ends. OMG though, I'm fuming for you!
|
| Posted 3/13/08 11:32 AM |
| |
|
jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
|
Re: So unfair!
Posted by lbelle821
OMG, that seems so wrong. I can't even believe it actually. Did you try calling the provider too? I can see them not giving it back to you but you still should be able to use it as long as it is before 2008 ends. OMG though, I'm fuming for you!
DH called our company yesterday. Apparently he would have to use it before his last day of official work which is March 28. So unless we can get someone to give us a receipt for childcare, we lose $1200. I can't even tell you how mad I am!
|
| Posted 3/13/08 11:34 AM |
| |
|
pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
|
Re: So unfair!
go to the drug store and LOAD up on baby medicines, tylenol, vitamins, anything like that is covered and try to use as much of the 1,200 as you can
that stinks
|
| Posted 3/13/08 11:35 AM |
| |
|
lbelle821
Arghhhhh
Member since 2/06 5285 total posts
Name:
Lisa
|
Re: So unfair!
Posted by jerseypanda
Posted by lbelle821
OMG, that seems so wrong. I can't even believe it actually. Did you try calling the provider too? I can see them not giving it back to you but you still should be able to use it as long as it is before 2008 ends. OMG though, I'm fuming for you!
DH called our company yesterday. Apparently he would have to use it before his last day of official work which is March 28. So unless we can get someone to give us a receipt for childcare, we lose $1200. I can't even tell you how mad I am!
this is a long shot but what would it take for your mom to get a tax id number and bill you for 1,200 in child care costs? She wouldn't have to pay much on that and at least you'd get your money back. I know it's a tight timeframe though. Ughh, SO MAD!!!
|
| Posted 3/13/08 11:36 AM |
| |
|
nickipa
love my boys!
Member since 4/06 5648 total posts
Name:
Nicki
|
Re: So unfair!
thats terrible!!!!! do either of you wear glasses or contacts, maybe go get new ones?
|
| Posted 3/13/08 11:42 AM |
| |
|
jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
|
Re: So unfair!
Posted by stephanief
go to the drug store and LOAD up on baby medicines, tylenol, vitamins, anything like that is covered and try to use as much of the 1,200 as you can
that stinks
Ooh, good point! I am going to look into this... all the things that can be used for the flex account. Thanks for the suggestion!
|
| Posted 3/13/08 11:43 AM |
| |
|
hbugal
Lesigh
Member since 2/07 15928 total posts
Name:
|
Re: So unfair!
Posted by lbelle821
Posted by jerseypanda
Posted by lbelle821
OMG, that seems so wrong. I can't even believe it actually. Did you try calling the provider too? I can see them not giving it back to you but you still should be able to use it as long as it is before 2008 ends. OMG though, I'm fuming for you!
DH called our company yesterday. Apparently he would have to use it before his last day of official work which is March 28. So unless we can get someone to give us a receipt for childcare, we lose $1200. I can't even tell you how mad I am!
this is a long shot but what would it take for your mom to get a tax id number and bill you for 1,200 in child care costs? She wouldn't have to pay much on that and at least you'd get your money back. I know it's a tight timeframe though. Ughh, SO MAD!!!
She actually wouldnt need a tax Id just a SS#...
I did this for a friend of mine for different reasons...
I then had to claim the income on my taxes..but it honestly barely made a difference. She then reimbursed me the difference.
|
| Posted 3/13/08 11:46 AM |
| |
|
JavaJunkie
Someday, Somehow
Member since 6/05 5857 total posts
Name:
Lois
|
Re: So unfair!
That stinks! I guess it's the same as when you don't use the whole amount in the FSA by the end of the year then you lose it!
|
| Posted 3/13/08 11:51 AM |
| |
|
Ang-Rich
Beyond Compare
Member since 5/05 17988 total posts
Name:
|
Re: So unfair!
If they will allow you to use medical expenses for the deduction I say go through all receipts...any medications and supplies can be submitted (check their list for approved items though) as well as doctor bills and co-pays...see what you can get back.
|
| Posted 3/13/08 11:54 AM |
| |
|
lbelle821
Arghhhhh
Member since 2/06 5285 total posts
Name:
Lisa
|
Re: So unfair!
if I'm not mistaken I believe there is a difference between a dependent care FSA and a medical expenses FSA. The medical expenses one is for copays, OTC medicines, rx's. If it is the dependent care one than it is only for childcare.
But as someone said, just have your mom send you a $1,200 bill for childcare if you only need a SS#.
Message edited 3/13/2008 12:06:34 PM.
|
| Posted 3/13/08 12:05 PM |
| |
|
twicethefun
Loving life
Member since 7/06 4088 total posts
Name:
|
Re: So unfair!
can't you just spend it?
|
| Posted 3/13/08 8:41 PM |
| |
|
DancinBarefoot
06ers Rock!!
Member since 1/07 9537 total posts
Name:
The One My Mother Gave Me ;-)
|
Re: So unfair!
Flexible spending accounts are governed by the IRS. The company has no choice- it's the law.
|
| Posted 3/13/08 11:07 PM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: So unfair!
Posted by DancinBarefoot
Flexible spending accounts are governed by the IRS. The company has no choice- it's the law.
ITA. The "program" is regulated by the government.
Why was he told he would lose it?
|
| Posted 3/13/08 11:20 PM |
| |
|
jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
|
Re: So unfair!
Dependent Care FSA are different than Health Care FSA's. With the healthcare FSA you can stock up on medicine, diaper rash cream, etc....don't think you can do that with the Dependent Care.
I agree that stinks. Hopefully you will get your money back
|
| Posted 3/13/08 11:29 PM |
| |
|
jerseypanda
Life is good.
Member since 1/07 9164 total posts
Name:
Amanda
|
Re: So unfair!
Posted by smdl
Posted by DancinBarefoot
Flexible spending accounts are governed by the IRS. The company has no choice- it's the law.
ITA. The "program" is regulated by the government.
Why was he told he would lose it?
Because he is going to be leaving the company by taking the voluntary separation package he apparently would have to submit receipts for items paid for before he leaves the company (March 28).... even though he will technically be getting paid by the company until the end of October. We were not planning on paying for child care until later in the year so it wasn't supposed to be a problem. Now that he is leaving, it's become a problem. They told him that if he did not have receipts for things before March 28, he will lose the $1200 that has been put to the side thus far. (not sure if that makes sense)
|
| Posted 3/13/08 11:31 PM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: So unfair!
Posted by jerseypanda
Posted by smdl
Posted by DancinBarefoot
Flexible spending accounts are governed by the IRS. The company has no choice- it's the law.
ITA. The "program" is regulated by the government.
Why was he told he would lose it?
Because he is going to be leaving the company by taking the voluntary separation package he apparently would have to submit receipts for items paid for before he leaves the company (March 28).... even though he will technically be getting paid by the company until the end of October. We were not planning on paying for child care until later in the year so it wasn't supposed to be a problem. Now that he is leaving, it's become a problem. They told him that if he did not have receipts for things before March 28, he will lose the $1200 that has been put to the side thus far. (not sure if that makes sense)
I am confused on that.
The company does not do the reimbursement. It's usually their insurance carrier.
I thought it was on a yearly basis not monthly or until you last day of work.
My understanding is that you lose it if you don't use it in that year period.
|
| Posted 3/13/08 11:42 PM |
| |
|
justthe4ofus
I hate hypocrites!!!!!
Member since 5/05 6905 total posts
Name:
|
Re: So unfair!
Can you prepay your new daycare?
|
| Posted 3/14/08 6:47 AM |
| |
|
Kellish
LIF Adult
Member since 10/07 2713 total posts
Name:
LOVE THE LIFE
|
Re: So unfair!
Check that list because you can get away with a lot of things.
|
| Posted 3/14/08 9:01 AM |
| |
|
Theresa05
Sofialiciciousssssssssssss
Member since 10/06 4891 total posts
Name:
|
Re: So unfair!
is there anyway you can fight that?
|
| Posted 3/14/08 9:05 AM |
| |
|
