Dependent Care Assistance Plans
Some companies offer a Dependent Care Assistance Plan, which allows employees to set aside up to $5,000 of their pre-tax salary per year to pay for dependent care expenses. There are certain restrictions that apply -- e.g., unspent funds are usually not refundable to the employee. Speak with the benefits coordinator at your workplace for more details on the plan.
Employer-Sponsored Assistance
Many employers now offer some form of employer-sponsored child care assistance to their employees. Some examples of assistance include:
- Matching funds or subsidy programs that are paid for by the employer for employees’ child care needs. This is offered as an employee benefit.
- Work and family resources, offered through the HR department, that may include enhanced CCR&R services in child care, elder care, and work/life issues.
- Employer funding for camp programs for employees’ children during school and summer vacations.
- Some employers offer on-site care for mildly ill children and emergency back-up care.
- Many employers find that providing on-site child care creates benefits both for the employee, by providing reduced tuition costs and stress-relief, and for the employer, with increased productivity, retention, and hiring incentives.
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