How Helpr Builds Cost-Effective Child and Dependent Care Benefit Plans
If we didn’t know before the pandemic, now we do: companies achieve more when they offer dependent and childcare benefits to employees.
Many companies and HR pros realized just how important care benefits were during the Covid-19 pandemic when millions of working parents took on the unique challenges of work-from-home. Unsurprisingly, this has led to an increase in dependent and childcare employee benefits as employees begin their return to life at the office.
As a dependent and childcare benefit provider, at Helpr, we’ve partnered with companies of various sizes and budgets to usher in this new, better era for working parents. Most importantly, we make offering employer-provided dependent care benefits easy and cost-effective.
In this article, we’re explaining how.
Through Helpr, Companies Can Create Customized Child and Dependent Care Plans for Backup Care
To be cost-effective, employee care benefits plans must fit your companies needs. Common considerations in determining company needs include budget, company structure, the current compensation program, number of employees, industry, workforce makeup, and work schedules.
At Helpr, we work with companies to create the right employer-sponsored childcare plan in light of these considerations.
Helpr Backup Care Packages: Plans that Fit Company Needs
All plans include:
- Backup Care: Out-of-Network
- At least 60 hours of care
- User-friendly employee dashboard
- Reporting capabilities
- Customer support
- Dependent Care Flexible Spending Account (DCFSA) tool
Additional features include:
- Enhanced reporting capabilities
- Helpr online
- PRG support
- Daycare backup care days
- Core care marketplace
Once A Plan is Chosen, Helpr’s Care Provider Options Promote Flexibility and Affordability
Unlike standard corporate care plans, which often offer a single childcare provider or have strict care networks, Helpr offers a flexible care provider network. Helpr’s provider options include in-network providers, “upload your own provider” capabilities, and direct hire through our Core Care marketplace.
Employees can select an in-network provider that has been carefully vetted by Helpr. Rates will vary depending on the location, but employees get to choose which provider to use. Employees are charged per hour by Helpr’s in-network providers, resulting in lower child and dependent care expenses.
“Upload Your Own Provider”
Through Helpr’s “upload your own provider” capabilities, employees can use their care benefits to pay family and friends to care for their dependents or children. With this option, employees can take advantage of care networks they’ve already established, which are typically more affordable.
Core Care and Direct Hire
By using Core Care, employees can discuss options and create a care plan with a Helpr-provided consultant. Core Care also offers two additional ways to hire the best care provider for their family:
- Employee-chosen candidates. Parents can send care provider candidates to Helpr to have them screened and interviewed.
- Helpr-recruited candidates. After discussing options with Helpr can recruit, screen and interview qualified candidates that fit the employee’s family needs.
Together, these methods help make offering childcare benefits to employees more affordable. On average, employers and employees can save up to 60% on hourly childcare costs through Helpr, as compared to traditional models.
Helpr Partners with Companies on Key Compliance Requirements
Compliance is an essential element of every child and dependent care benefit program. Two key compliance areas for every care benefit are tax reporting requirements and childcare provider regulations:
Dependent Care FSA Compliance
Backup care benefits administered using a Dependent Care FSA are subject to strict IRS regulations. Both employees and the company will need to maintain appropriate records.
Specifically, employees need to show that expenses paid for using Dependent Care FSA funds eligible expenses. To be an eligible expense, it must be a work-related expense for the care of a qualifying individual.
Helpr’s FSA tool creates and maintains these records automatically, eliminating a historically tedious and complicated employee benefits process.
Other Tax Reporting
Dependent Care FSAs aren’t the only way to provide childcare benefits. Still, how a company chooses to provide care benefits will impact both the employee’s and the company’s taxes.
State Laws Regulate Childcare Providers
Laws regulating the childcare industry, and particularly childcare providers, vary by state. These laws are implemented to ensure the health and safety of children and dependents in the care of a childcare provider or caretaker.
Through the vetting process, Helpr ensures compliance with these state laws. This vetting process includes person meets, reference checks, background checks, social media review, CPR certification, and payroll setup.
Helpr Creates Custom Marketing Plans to Help Company Partners Increase Benefit Utilization
We understand that dependent and childcare benefits aren’t an investment if your employees aren’t using them. We also understand that even though employer-paid childcare expenses are an attractive benefit to candidates, low benefit utilization still plagues childcare benefit plans.
To increase benefit utilization, we build customized marketing plans for each of our company partners. These marketing plans help ensure that employees have meaningful access to their benefits. This means that they understand what the benefit is, how to enroll, and how to get the most out of it.