Alternative payments

[MarinaVanessa]

Dependent Care Accounts:

I have a drop-in client that's a teacher who is interested in becoming a regular client. We are still talking about the details. She wants to pay through their Dependent Care Account that she has set up through her job. I'd get the money sent directly to me and I don't know how it all works. Anyone have any experience with this? How does this work and what are your thoughts?

I'm concerned because I expect payment in advance from all of my clients from the little bit of info tha I've found I'm assuming that I won't get paid until after I've already watched the child. Is this correct? Even with subsidy clients I require them to pay me directly (private pay) until I receive the first payment and then I reimburse them back. Can I also do this with the way this family wants to pay? Hopefully someone can shed some light on this for me.

[bice99]

My flex families pay me the first month in advance. Then when the reimbursement for that month comes, it's applied to the following month. Since I require one month's notice for termination, it all works out if they chose to leave for some reason, too.

[wdmmom]

I have 2 parents that pay me through a flex spending account. They pay me out of pocket, have me fill out the form and get reimbursed. That's the way I prefer!

[MarinaVanessa]

I have 2 parents that pay me through a flex spending account. They pay me out of pocket, have me fill out the form and get reimbursed. That's the way I prefer!

Okay good, I was just making sure it was allowed. I feel more comfortable doing it this way because that's a whole month that I'd be losing out on if they were to try to skip out on me KWIM? Not saying that they would, just saying that you never know.

A question for you ... when they pay you, they have given you payment in advance for the entire month correct? So when you get your payment through their Dependent Care Account do you actually give them all of the money back or hold it and apply it towards the next months care, sort of like a deposit? In other words, do you you give it all back and then ask them for payment for the following week?

I was also leery about how there is a form that has to be filled out. I would expect the parents to get the form and turn it in after I had filled it out and that in itself scares me a little. What if they procrastinate? Turn it in late? Lose it? etc. I don't want my payment to be delayed because they dropped the ball.

Flex spending account? What's that? Is that just another term for Dependent Care Account? Or is it altogether different? Thanks so much, I appreciate it girls.

[MarinaVanessa]

My flex families pay me the first month in advance. Then when the reimbursement for that month comes, it's applied to the following month. Since I require one month's notice for termination, it all works out if they chose to leave for some reason, too.

I charge weekly in advance so it's a little different than you. What are your thoughts on how I should handle it? I just want to do my research and homework to make sure that I am prepared.

Another thing everyone. Let's say that the month is over and it's time to fill out the form. Do we fill it out on the last day of care for the month and then they send it in? How long before you actually get the payment and is it a check or is it deposited into your account? Thanks for the help.

[momofsix]

I have 2 parents that pay me through a flex spending account. They pay me out of pocket, have me fill out the form and get reimbursed. That's the way I prefer!

I do this too. The parents pay me, then they either turn in a reciept I provide or have me fill in a form stating what they've paid me and the dates. (I have been paid be them) The check they get from their flex or dependent care goes straight to them. I have nothing to do with checks from them. Most parents will turn that check right around and pay me with it again...and it just keeps on going-they pay, submit reciept, get reimbursed, they pay...

[MarinaVanessa]

I do this too. The parents pay me, then they either turn in a reciept I provide or have me fill in a form stating what they've paid me and the dates. (I have been paid be them) The check they get from their flex or dependent care goes straight to them. I have nothing to do with checks from them. Most parents will turn that check right around and pay me with it again...and it just keeps on going-they pay, submit reciept, get reimbursed, they pay...

Oooooh! Awesome. That sounds great. I will deffinetely do this then. Thanks so much. This by itself makes me feel so much better about the whole thing. Thanks.

I don't know where I would be without this forum.

[Nellie]

I have a family that pays through a flex account. They pay just like every one else. They only bring in the form once every couple of months. I fill it out Name, Dates was in care, amount of bill, and FIN or SS. Parents then get the money direct deposited into their bank account. Very easy.