Posts Tagged ‘DCAP’
All About Further’s Dependent Care Assistance Program (DCAP)
As fall approaches, parents are making decisions about what care their children will need during the new school year. Child care can be a significant expense for many families. In fact, according to a recent Care.com survey, 59% of families estimated they’ll spend more than $10,000 on child care in 2021. With open enrollment just…
Read MoreConsolidated Appropriations Act, 2021: What does it mean for FSA and DCAP?
The Consolidated Appropriations Act, 2021, was signed into law on December 27, 2020. This COVID relief bill includes several items that impact medical flexible spending accounts (FSAs) and dependent care assistant plan (DCAP) accounts. Most of these changes are temporary – only lasting through 2022 – but the enhancements may affect how you choose to…
Read MoreDCAP Payroll Contributions: Information for Employers Now and in 2021
The end of the year, and specifically during open enrollment, is a time during which many people budget for anticipated expenses for the coming year. However, 2021 will not bring about a return to pre-COVID-19 “normal,” at least for the first several months. For those employees with dependent care assistant program (DCAP) accounts, also known…
Read MoreDCAP’s Use It or Lose It: Information for Brokers Regarding DCAP in 2020
The 2020 pandemic has disrupted everyone’s life. And working parents of young children have been among the most challenged. School, daycare and workplace closures have required such employees to supervise their children’s education while working from home. With most of us believing our worlds would return to pre-pandemic normal by late summer, no one gave…
Read MoreCalifornia Law Requires Employers to Notify Employees of FSA Withdrawal Deadlines
Effective as of January 1, 2020, California enacted a law that requires employers offering flexible spending accounts (FSAs) to notify participants of any deadline to withdraw funds before the end of the plan year [should their participation in the FSA terminate early]. This law includes health FSAs, dependent care, or adoption assistance FSAs, and the…
Read MoreSix Ways to Leverage the Dependent Care Assistance Program (DCAP)
For parents and legal guardians, paying for dependent care adds up quickly. A Dependent Care Assistance Program (DCAP), also known as a Dependent Care FSA, is an employee-sponsored reimbursement program that lets employees use pre-tax dollars to pay for a dependent’s day care and other necessary expenses, while the employee is at work. Examples of…
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