Possible to Transfer Funds from FSA Dependent Care Account to Health Care Account?


W

wcontrata

Is it possible to transfer funds from Flexible Spending
Account (FSA) for Dependent Care to an FSA for Health Care?

This year I elected to deposit $5000 in my dependent care
FSA, thinking that the funds would be available for the
health care of my dependents. As that is not possible, I
want to petition the provider to move the funds to my Health
Care FSA.

I can show that I never had any intention of using these
funds for day care or the like. (In other words, that I
have done a very foolish thing.) My children's ages are 11
to 17, and do not require day care. My wife needs no care.
I have no other dependents. Furthermore, planned to be a
full time house-wife this year.

I can show that my intent was to use the funds to pay for my
son's braces, which we have been planning for over a year.

Do you see any way to move the funds from Dependent Care to
Health Care? Any other ethical method of avoiding loss?
 
Last edited by a moderator:
Ad

Advertisements

J

joetaxpayer

Is it possible to transfer funds from Flexible Spending
Account (FSA) for Dependent Care to an FSA for Health Care?

This year I elected to deposit $5000 in my dependent care
FSA, thinking that the funds would be available for the
health care of my dependents. As that is not possible, I
want to petition the provider to move the funds to my Health
Care FSA.

I can show that I never had any intention of using these
funds for day care or the like. (In other words, that I
have done a very foolish thing.) My children's ages are 11
to 17, and do not require day care. My wife needs no care.
I have no other dependents. Furthermore, planned to be a
full time house-wife this year.

I can show that my intent was to use the funds to pay for my
son's braces, which we have been planning for over a year.

Do you see any way to move the funds from Dependent Care to
Health Care? Any other ethical method of avoiding loss?
A DCA may only be used if both parents are working or
activly looking for a job. You did make a mistake. There
are limmited chances to undo this, but you need to go
straight to your HR to see if they can help you. If they say
'no', you have little recourse, I'm sorry to say.

JOE
 
Last edited by a moderator:
Ad

Advertisements

W

wcontrata

Joe,

Many thanks for your reply.

What discretion does our HR dept. have in this matter? What
IRS publication or other document regulates their actions?
I would like to prepare before talking to HR.
 
Last edited by a moderator:

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top