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A few days ago I wrote a post reminding you about FSA benefits, so that you don't forget to use those funds. A reader found some of the information regarding what happens to your FSA if you leave your job before the plan deadline.
Amy writes:
"For dependent care expenses, it is thought that the reason for the dependent care expenses is because the participant has to work. So funds can be claimed even after the EE's benefit termination date."
This is great news. So, if you've left your job for whatever reason you can continue dependent care. This allows you to seek and acquire a new position, continue dependent care and still get reimbursed for this expense.
Thanks, Amy for this clarification.
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Ah! I should clarify that even further. You can no longer contribute to your FSA Dependent Care account after benefit termination. That is not a COBRA option either. But you can, however, claim the funds contributed to your FSA Dependent Care account provided you have incurred dependent care expenses that meet your account balance. I must also include, if there are ever any questions, please discuss any questions you may have with your benefit provider. ;-)
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