flexible spending plan for dual income family, how does it work?

[fac]

I thought I knew, but then I got a new job offered and I am confused...

When both DH and my companies offered us to apply $5000 towards Flexible Spending Plan (medical), I was told by my company's HR that I have to choose either deducted from my earning or for DH to deduct from his earning with his company.

Recently I got a new job offered and one of the benefits is to be able to apply $10,000 towards the FSP (for medical only). Now, I am confused, I always thought the $5000 was based on federal regulation, is it not true?

 

[mistysue]

I know they have been switching limits around. I would google search and read up for a while. They also changed what things count. Basically, you can't use FSA's for over the counter stuff anymore. I don't know how much you make either, but there are income limits that effect how much you can hold out with an FSA.

 

[LovableGluttons]

With orthodontics costs looming this year, DH and I both elected the full FSA offered by our employers.

By January 31st of this year, those preloaded debit cards were emptied!


My husband was active duty until 2007, so I was the only one with an employer who offered the FSA.

The timing for our family this year worked out so well.

 

[fac]

thanks.
It seems that both spouses can elect to contribute the maximum.
http://answers.webmd.com/answers/1194690/Can-both-married-spouses-have-flexible

 

[dzorn]

Just remember you lose what you do not use at the end of the year.

Denise in MI