OT - Dependent Care FSA Forfeiture

[CDollarsign]

All,
Kind of let my finances get away from me this year and didn't stop my dependent care fsa payments. With COVID we spent very little on childcare in 2020. Does anyone have any creative solutions on this?!

Colin

[prototoast]

You can roll them over: https://www.jdsupra.com/legalnews/co...lth-and-55190/

[ORMojo]

Proto beat me to it, but yes, due to a Coronavirus relief provision, dependent care FSA carryover/grace period has been expanded. But it is my understanding that your employer has to choose to allow this, and has to choose between carryover or grace period.

Check with your employer.

[CDollarsign]

It looks like their doing a grace period until March 31st...

[mg2ride]

I'm having the same issue with my medical FSA. Over funded and thankfully had very little out of pocket medical bills.

Double check on the extension. For my medical FSA (Fed Employee) it would appear I have until March to apply but the expenses had to be in 2020. They allow $550 roll over.

I'v become an expert and making PDF, back dated, Amazon invoices.

[jmvernon]

Can you spend you FSA money on Amazon FSA Store?

I know at the end of last year I had a few extra dollars, it wasn't dependent child care FSA, so I don't know if you can use your dollars there.

If so I pick up a few items, like blood pressure monitor and a few other items that I wouldn't of normally bought if it wasn't for FSA dollars I needed to spent.

[C40_guy]

Originally Posted by mg2ride

I'm having the same issue with my medical FSA. Over funded and thankfully had very little out of pocket medical bills.

Time to get new (prescription) sunglasses from Oakley, Rudy Project, etc... That will take a bite out of your FSA balance!

Or...get a comprehensive blood test done by InsideTracker. (Disclosure...my son works for InsideTracker. PM me for a discount code!)