Can a couple have two separate flexible spending accounts from two different employers?

Answer 1

Yes.

Just like insurance tough you just can't get paid 2x for the same expense. (Once it is paid the first time, you have no expense really for the 2nd).

Yes, you can have two separate Flexible Spending Accounts from two different employers. However, the total amount that is put into both plans combined is limited by the IRS. For example, the maximum that a couple can put into a dependant care flexible spending account in 2007 is $5,000. If you and your spouse contribute more than that, you would lose the amount over $5,000. It would not be legal to submit the same expense to two different flexible spending account plans.