Q.- An employee elected to contribute $2500 to his health FSA and $2000 to his dependent care FSA. He sees that he is not having medical expenses this year. Can he transfer some funds from his health FSA to his dependent care FSA?
A.- No. Once elected, FSA contributions must remain for the entire plan year unless the participant encounters a life event that is recognized by the plan as allowing a mid-year change. He cannot just transfer funds between accounts.
