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What is a Dependent Care Assistance Plan (DCAP)?

April 26, 2017dcap dependent Plan

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What is a Dependent Care Assistance Plan (DCAP)?

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The Dependent Care Assistance Program assists in funding eligible child care expenses and certain costs associated with the care of a dependent child, spouse, or parent. Participants make pre-tax contributions by payroll deduction and the contributions are allocated to an account maintained on the participant’s behalf by the employer.