Our open enrollment to set up a dependent care account through my husband's work is next week and I'm confused because the plan year doesn't line up with the calendar year. The way I read it we can put in $5k per CALENDAR year and then have to use all that money by the end of the PLAN year (July 2017-June 2018) or lose it. We won't be needing daycare until January 2018 but given how expensive it is in Boston $5k/year is kind of a joke since it doesn't come close to the true cost (but hey - I'll take any tax benefit I can). Does anyone have an insight on whether or not I can put $5k during 2017 and then another $5k in 2018 and then use that full $10k in 2018?? I'm going to call my husband's HR department but previous experience has taught me that they are incredibly incompetent so I wanted to see if anyone had a similar experience before I called so that I could be armed with as much information as possible. Particularly @hoffse
any ideas? The only hiccup I foresee right now is you don't seem to be able to change the payroll deductions mid-way through the plan year so how would I set the deduction now to make sure that $5k comes out in 2017 and $5k in 2018?