Home / Blog / NEW 2024 Brochure for Dependent Care Assistance Plan FSA Benefit Plan Document
NEW 2024 Brochure for Dependent Care Assistance Plan FSA Benefit Plan Document
December 31, 2023 – The Core DCAP FSA allows tax-free employee dependent care expenses up to $5,000 annually. Employees save up to 40% in income taxes ($2,000 year). Employers also save the 7.65% matching FICA Social Security and Medicare tax ($382.50 per employee).
Employers can establish a Dependent Care Assistance FSA benefit simply by establishing a written plan document, a requirement of the IRS, and distribute a benefit summary plan description to every employee, a requirement of the Department of Labor.
Core Documents can provide you with everything you need to establish a Section 129 Dependent Care Assistance FSA including the: Plan Document, Summary Plan Description, Election/Claim Forms and a complete Do-It-Yourself Administration Guide.
The basic PDF plan document package delivered via email is only $129, the deluxe printed plan document package in 3-ring binder plus the PDF email version is $179.00.
Tax Savings Calculations
• $5,000 Maximum X up to 40% payroll taxes = up to $2,000 savings per employee
• $5,000 Maximum X 7.65% Matching FICA Tax = $382.50 savings to the employer per employee
The IRS and DOL only require employers to adopt a formal plan document and SPD to define the benefit design in writing. Then you start saving money.
Online encrypted Order Form: /fsa_online_order_options.php
Fax/Email Order Form: /image/CoreDCAP_FSA_Order_Form.pdf
Brochure: /wp-content/uploads/2017/11/Core-Section-129-Dependent-Care-Assistance-FSA-Plan-Document-Forms.pdf