Dependent Care Spending Account
A DCAP is an employer-sponsored benefit that allows workers to set aside money before taxes to pay for dependent care while they are working or attending school.
Save an average of 30% on eligible dependent care expenses like preschool, summer day camp, before/after school programs, child or elder daycare, and more.
Reduce your overall tax burden—funds are withdrawn from your paycheck for deposit into your account before taxes are deducted
These plans help pay for child care expenses, including summer camps, for kids up to age 13 or adults who are mentally and physically unable to care for themselves if the guardian meets the work/school requirement mentioned above.