Dependent care FSA question
My husband and I are having a baby next month and in December the baby will be starting day care, expected cost of $1700/month. I’m a bit confused on what to do with dependent care FSA because of my insurance. My health insurance plan runs from Jul 1- Jun 30 while my husband’s runs the typical calendar year schedule Jan-Dec. Baby will be joining my health insurance. My husband contributed $500 to his dependent care FSA this year that will go towards our December day care bill. I am struggling to determine how much to put into my dependent care FSA due to the IRS contribution max of $5000 for married couples filing jointly. Can I only put in $4500 since my husband already has $500 allocated to 2022? Or can I put in the full $5000 since my plan runs until June of 2023? Or, is it best for us to split the contributions for 2023 in case one of us changes jobs and loses the dependent care FSA benefit? If so do I put in $2500 now and have him put in $2500 for his next plan year?
Appreciate any advice and assistance you can give!
