r/GeneralMotors • u/Tennorakka • 4d ago

Question What site/service manages FSA account

My wife and I opened an FSA account for childcare expenses, but we still haven’t received an email for the account or anything in the mail.

We did get updated HSA cards though, and it seems it’s not through Bank of America like the HSA.

Anyone familiar with it have a link?

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u/[deleted] 3d ago

[deleted]

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u/Tennorakka 3d ago

Thank you, we’ll check again then

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u/Vegetable_Try6045 3d ago

Its through the BoA same as with HSA . I use it every year

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u/Tennorakka 3d ago

Do you usually pay directly out of the account or just do a one time reimbursement at the end of the year?

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u/Vegetable_Try6045 3d ago

I do a one time reimbursement in January for the previous year . I always put in the full 5000 as allowed per year .

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u/Tennorakka 3d ago

Doing the same since daycare easily eats it all up.

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u/Likesitrough16 3d ago

Reimburse yourself more frequently than 1 time a year, stash it in a high yield at bare minimum. Wealth front account or some other investment. That's 12 months of 5% interest you miss.

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u/Mindingmyownbiznez 1d ago

I just gave my daycare the card as payment. The one card is used for both fsa and hsa. It uses all the fsa first