Child Care Almost as Pricey as Rent

Excerpt from LinkedIn Daily Rundown published on August 30, 2018

Woman holding baby and a document in front of a computer while talking on the phone on her shoulder and a document on her handThe average monthly cost for child care in the U.S. is $1,385, according to new analysis by Care.com. In-home care runs an average of $28,354 per year and childcare at some type of day center costs an average of $9,589 per year. Although costs vary by location, the average monthly cost of childcare in the U.S. is almost as much as the country’s median monthly rent — $1,500. • Here’s what people are saying.

From the FSAFEDS website: A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for eligible dependent care services, such as preschool, summer day camp, before or after-school programs, and child or adult daycare. It’s a smart and simple way to save money while taking care of your loved ones so that you can continue to work.

With a DCFSA, you use pre-tax dollars to pay for qualified out-of-pocket dependent day care expenses. The money you contribute to a DCFSA is not subject to payroll taxes, so you end up paying less in taxes and taking home more of your paycheck. See Dependent Care FSA for more information.

Author: chapterpresident

I have worked in the FDA since 1990 in a variety of positions. I currently serve as chapter president of NTEU Chapter 254, representing FDA employees in Arkansas, Colorado, Iowa, Kansas, Missouri, Nebraska, New Mexico, Oklahoma, Texas, and Utah.