Creating the Perfect Employer Dependent Care Benefits
The employer dependent care benefits are one of many employer backup care benefits offered by employers. This benefit is to assist employees in providing for dependents in their household. In most cases, this means young children below the age of 13 or disabled family members. Employer dependent care benefits are provided by the employer by retaining a part of the employee’s pre-tax paycheck so they can pay for their children, spouse, and dependent individual in their family. Employer dependent care benefits typically include daycare allowances, tax credits, and paid leave. These dependent care benefits are paid for by the employers who can always decide to permit sole proprietors as their partner but it has to exclude compensation from the W- 2. Employer dependent care benefits can be in form of a flexible spending account and child dependent care credit.
Importance of Employer Dependent Care Benefits
Child and elder care benefits are a serious issue that cost a fortune in many American Families. Many people in the US rely on child care nannies to take care of their children while they are at work. Some others need to take care of their disabled family members and older parents.
For these people, paying for nannies to take care of their loved ones take a huge chunk of their monthly salary. In some cases, some have to settle for low-quality care for their loved ones because of the huge financial commitment required by high-quality day-care services. This results in unnecessary distractions at work.
However, with an Employer Dependent Care benefits scheme, employees can have a certain amount deducted for child and elder care benefits. Then, at the end of the month, these employees can apply for reimbursement of these funds from their employers.
One of the main importance of the Employer Dependent Care benefits is the tax benefits that come with it. The money that goes into the account is already taxed and so, it tends to reduce the burden of tax for employees and their employers as well.
Employer Dependent Care Benefits from Bright Horizons
As of today, more than a thousand companies worldwide rely on Employer Dependent Care Benefits from Bright Horizons. Over the years, we have done nothing but spread joy to our extensive customers that include more than 1 million employees spread across the world with our unrivalled commitment to providing excellent service.
Our Employer Dependent Care Benefits support employers and their members of staff. Employees rely on us to offer our extensive expertise in the development and management of Employer Dependent Care Benefits schemes while their staff rely on us for excellence in child and elder care benefits
Bright Horizons robust services
At Bright Horizons we offer comprehensive and in-depth coverage in our Employer Dependent Care Benefits. Our Employer Dependent Care Benefits are an all-encompassing employer backup care scheme since they cover so many schemes. We help employees and their staff build schemes that typically cover other forms of employee benefit schemes like the following:
- Employer onsite child care for children below 13 years by a babysitter.
- Daycare benefit for employees
- Employer-sponsored elder care for an elderly parent or grandparent while the employee is at work.
- Child care for a child who is over 13 but cannot take care of themselves.
- A spouse that cannot take care of themselves or go to work.