Care.com Introduces Spending Accounts to Help Employers Mitigate the Cost of Care for Employees
The Care Spending Account will enable employers to make a monthly or annual lump sum contribution to each employee’s care expenses. Employers will have the flexibility to determine which categories of care are covered by the Care Spending Account funds.
The development of this new product reflects the growing recognition that working families cannot function without care and the growing reality that they are looking to their employers for help shouldering the costs. Care.com’s 2024 Future of Benefits Report released earlier this year underscored these trends among employees: cash subsidies for care were the second most wanted family care benefit overall and 30% ranked the benefit as their top choice among the family care benefits not currently offered to them but would be used if available.
In making the announcement,
The Care Spending Account product will be powered by First Dollar, a technology company that provides flexible infrastructure for health spending benefits.
About
Available in 21 countries,
Care for Business offers the most comprehensive suite of employer-sponsored family care benefits to global businesses, including many of the Fortune 500. Its solutions are designed to help solve today’s most disruptive caregiving challenges: finding care, affording care, and navigating the challenges of caring for loved ones.
About First Dollar:
First Dollar is a technology company that builds flexible infrastructure for health spending benefits. Innovative organizations—from TPAs to banks—use First Dollar’s suite of software tools and APIs to launch and manage lifestyle benefits, pre-tax accounts (FSAs, HRAs, HSAs), rewards programs, and supplemental benefits. First Dollar’s Benefit Suite includes the Health Wallet for members, the Health Wallet Manager for administrators, and the Health Wallet Platform for partners. First Dollar is based in
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522514516/en/
For
Manager, Public Relations
Natasha.Fellion@care.com
For First Dollar
VP, Marketing
kgross@firstdollar.com
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