Wednesday, April 22, 2015

Local companies are seeing the benefits of subsidized child care

This year is the year to take full advantage of the child care savings available to you. While DC is aimed to decrease tax breaks for working parents, the top businesses are focusing efforts on planning for their employees’ well being by buffing up their child care center benefits. 

The infamous mega-companies with oodles of employee work perks and corporate concierge services, such as Google are experimenting with on-site child care facilities, but most businesses find the task of staffing and maintaining these facilities too daunting and prefer to outsource locally. Meanwhile, DC agendas are targeting child care centered employee benefits, so far planning to eliminate flexible spending accounts all together. This tax break is by far the biggest savings advantage for working parents available. 

Every year you can fill a FSA with up to $5000 of pre-tax income to use directly on the child care services of your choosing. According to Forbes, over 50% of local and state level workers have flexible spending accounts as an option, while parents are being advised to make use of their FSA’s, they are also being warned of the program’s possible demise. 

To bridge the gap and provide reliable plans to working parents, some of the top companies are forming close partnerships with local day care professionals. Intel being the one of the largest supporters of off-campus facilities, offers its Portland area employees our Wevillage flexible child care services. A spokeswoman for Intel proposes that “child care is one of the most intense things new parents worry about, to know Intel has vetted these child care centers and engaged with them makes a difference. It helps you make decisions.” Nike WHQ in Beaverton assures employees have adequate child care around the clock by maintaining two on-campus facilities and offering off-campus flexible child care through Wevillage. 

As federal tax breaks for new working parents decrease, businesses will begin to pick up the slack by teaming up more and more with local professional day care centers to make sure employees can afford to have their children taken care of. Recently Wevillage began offering corporate child care benefit options to local employers by way of subsidized childcare options. Currently Wevillage serves Wieden & Kennedy and Liaka Studios. 

Many of the biggest local employers such as OHSU, Kaiser, Tektronix, and OMSI already offer discounted membership packages with Wevillage to parents. “Wevillage’s corporate benefits plan allows employers to guarantee their workers have the best day time care, full time childcare, and late night care available," explains Jessica Scott, Wevillage’s Marketing Director. 

To make the most of your available child care benefits and savings, speak with your HR department to find out if your employer offers FSA accounts or even a corporate subsidized child care plan with local professionals like Wevillage. 

WeVillage Childcare Blog