Can I pay for child care before taxes?How much can I contribute?What is MarketStar contributing?
Plan Options: Dependent Care Assistance Plan
MarketStar is happy to announce that for the 2022-2023 benefit period, we will match your child care expenses dollar for dollar up to $5,000 a plan year.
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Dependent Care Assistance Plan
If you have qualified expenses, you will be able to submit your receipts/invoices to our plan administrator, Better Business Planning Administration (BBP), who will then reimburse you back 50% of those expenses. We are excited for the support this will provide to our team members who have children and need child care to be able to work.
DEPENDENT CARE ASSISTANCE PLAN
Who can use It? A DCAP is available to working adults with:
- Dependents younger than 13 years old
- Adult dependents who need assistance or elderly care during working hours
How can I use my DCAP? You can use it for expenses that include:
- Day care, preschool, and pre-kindergarten tuition
- Before- and after-school care (may be called 'extended day' by your child's institution)
- Summer day camps
- Child care costs during work and/or college hours
- Sick-child care
- Adult and elderly care programs
What is NOT eligible?
A DCAP is designed to help pay for the costs of keeping your dependents cared for while you're working or at school. However, this is limited to tuition and similar type expenses.
You CANNOT use your DCAP to pay for:
- Babysitting not necessitated by working or attending college
- Field trips
- Lunches or other food items
- Overnight camps (where the child does not come home at the end of the day)
- Care provided by your spouse, your child under age 19, a parent of the qualifying child who is not your spouse, or another person who counts as your tax dependent
- School supplies, uniforms or clothing
- Tuition for grades kindergarten and above
How do I file for Reimbursement? There are a few pieces of information you'll have to submit to get reimbursed from your DCAP:
- Dependent's name and date of birth
- Itemization of charges (receipt)
- Start and end dates of service
- Caregiver's name, address, tax ID number (or Social Security Number)
- Go to bbpadmin.com to access a claim form and submit it electronically
