Benefits Connect
As an extension of Mayo Clinic Human Resources, Benefits Connect brings together benefits experts, plan members, and those who are curious about benefits to share their experiences and knowledge. Each new post is designed to go beyond simple resource information to practical advice on the best strategy to get the most out of the industry-leading benefits at Mayo Clinic. Join the conversation by commenting on posts and replying to comments.
Who’s excited for a new year of daycare expenses?
Or should I ask, who’s excited they are starting over with getting reimbursed for 2018 daycare expenses from their Dependent Care Flexible Spending Account (FSA)? Here are a few tips to help this year’s reimbursements go smoothly.
- If your expenses pile up faster than your contributions to the plan, you don’t have to wait to submit claims. You can submit an amount higher than what you’ve contributed, and as soon as additional funds are available (with each pay check), Mayo Clinic Health Solutions will automatically process the additional expense based on funds available and you’ll see a payment go out (typically Friday).
- Direct Deposit is the quickest way to get your reimbursement. Visit MayoClinicHealthSolutions.com to sign up.
- Don’t forget the app, Mayo Clinic Health Solutions – Reimbursement, for quick claim submissions and on-the-go expense tracking. You can find it in the Google Play store and the App Store.
So, what’s your preferred frequency for reimbursement?
- Every pay period
- Monthly
- Quarterly
- Just once at the end of the year
Share your preference and reason below so others can get a perspective on a different way of doing things!
Liked by Cheryl Nienhuis
@transom
I prefer every pay period, as then it offsets my contribution to the account.
That being said, my expenses for daycare are incurred during the summer since my kids are in school full-time, so this is quite as critical anymore. 🙂
Great post – thanks for the tips.
Liked by Tony Lehrman, Kristi Welhaven