Omaha Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Talk to me about Payflex...
This seems like it is totally worth it to have it. I can only use this for daycare because I have a FSA account for health insurance. Any input on this would be greatly appreciated!
Re: Talk to me about Payflex...
Here are the numbers off of the flyer we got for work. If your salary is $50,000 and you contribute $4000 to Dependent Care, your annual savints is $1,188 based on 5.56% FICA and 15% Federal Tax. If your salary is $70,000 and you contribute $4500, your annual savings is $1,343. Just some numbers!
We do it and it works out really well. We have not had issues getting money back. The only issue we run into is because I don't pay as much in the summer, so for the first half of the year, I am paying more for daycare than I am getting back from PayFlex, but then it catches up in the summer and the second half of the year I get back what I pay, so it all works out.
Just make sure you don't end up putting in more than you'll need because you don't get it back. With not knowing when Isla is coming for sure, I erred on the side of caution for daycare next year. I'd rather end up a little short in PayFlex than losing the money in the end.
DH's employer goes through payflex for their health and daycare FSA. I love it because it's all done through a debit card linked to your accounts, so no need to pay out of your pocket and then submit paperwork for reimbursement, but you can do that if you want. The past three years we've only done the Health Care FSA through them, used the Mastercard to pay for everything RX/Dr appt/Dental wise for us and the little boys. For the older boys, we usually get a payment receipt from their mom and then we go online and request to be reimbursed for our amt of the bill, and we fax the receipt into them and then the money is direct deposited into our checking account on Fri.
This is the first year we are doing the daycare through them so not sure if that's also a debit card or what, but I hope so!
I have to submit my daycare the same way you are submitting the HSA stuff. Just don't forget that your daycare provider has to sign EVERY statement, or they'll deny it. It's kind of annoying. I have mine do a receipt for me at the end of every month since mine varies so much. When C went to the daycare at Alegent --- they did all the submitting for me and I just got reimbursement checks. It was nice
Married the love of my life 6/3/06
Became a family of three 8/25/09
My aunt doesn't do 'bills' or anything, so DH just makes a spreadsheet and types her name in, and they don't have a problem with that.
We do HSA for health and daycare. I have the MC that I use for most health things. Some things I pay OOP, and reimburse for. We only have one card, so if DH pays a copay at his dr, then we get reimbursed for that.
Daycare - you can only get reimbursed what you've paid in. So, I fax my receipts in every week, and then what gets taken out of my check (I think it's like $416 a month -- we maxed the 5K out because I knew we would use it) gets direct deposited into my bank account the Friday after I get paid. It will get caught up during the summer... The first few statements, they didn't want a signature on. Then I missed a week, so I claimed 2 on the same form and they all of a sudden decided they wanted a signature. I asked the director to sign the statements now, which she has no problems doing, and they are happy with that!
I know that you could not do HSA, and then claim it all on taxes... but we benefit from getting that money back more regularly than once a year! We will still be claiming some because we pay more a year than the max Payflex contribution, which will help at tax time... but the more immediate reimbursement is nice! :-)
Picture courtesy of Heidi Keene Photography