Child Care Benefit
Eligible Officers can elect to receive up to a $2,000 contribution from Columbia to a Dependent Care FSA. If you elect this benefit during the year, you will receive a prorated portion of the benefit.
To be eligible for this benefit, you must meet all of the eligibility criteria below:
- Be a full-time, benefits-eligible officer with an annual benefits salary of less than or equal to $120,000
- Have a dependent child under the age of five and not yet attending kindergarten who has been verified by the Columbia Benefits Service Center as an eligible dependent and meets the IRS definition of a tax dependent
- Elect to participate in the Child Care Benefit as a new hire, during the annual Open Enrollment period or if you experience a Qualified Life Status Change.
There is a limit of a single benefit per family regardless of the number of eligible children, and regardless of whether both parents are eligible Officers. Officers who receive the Child Care Benefit can also contribute personal pre-tax payroll contributions to their Dependent Care FSA. The total contributions between the Dependent Care FSA and the Child Care Benefit cannot exceed the $5,000 annual maximum.
Learn more about this program.