Contact Us: (661) 432-1474​
ISG Benefits and Insurance Services
  • Home
  • Quotes
    • Medicare Quote
    • Health Quotes >
      • Employee Benefits Quote
      • Health Insurance Quote
      • Dental Insurance Quote
      • Vision Insurance Quote
    • Christian Health Care Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Final Expense Insurance Quote
  • Service
    • Applications
    • Group Census Form
    • Health Terms
    • Plan Cost Calculator
    • Policy Review
    • Providers
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Medicare
    • Health >
      • Employee Benefits
      • Health Insurance
      • Dental Insurance
      • Vision Insurance
    • Christian Health Care
    • Life/Financial >
      • Life Insurance
      • Final Expense Insurance
      • Annuities
      • Disability Insurance
    • Savings Group
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Resources
    • Forms
    • Eligible Expenses
    • Quick Links
    • Remote Upload
  • Contact
  • Login
  • Home
  • Quotes
    • Medicare Quote
    • Health Quotes >
      • Employee Benefits Quote
      • Health Insurance Quote
      • Dental Insurance Quote
      • Vision Insurance Quote
    • Christian Health Care Quote
    • Life & Financial Quotes >
      • Life Insurance Quote
      • Final Expense Insurance Quote
  • Service
    • Applications
    • Group Census Form
    • Health Terms
    • Plan Cost Calculator
    • Policy Review
    • Providers
    • Update Contact Info
    • Policy Changes
    • Proof of Insurance
    • Contact My Carrier
    • Online Documents
    • Free Consultation
  • Insurance
    • Medicare
    • Health >
      • Employee Benefits
      • Health Insurance
      • Dental Insurance
      • Vision Insurance
    • Christian Health Care
    • Life/Financial >
      • Life Insurance
      • Final Expense Insurance
      • Annuities
      • Disability Insurance
    • Savings Group
  • About
    • Staff Directory
    • Client Testimonials
    • Refer a Friend
    • Insurance Carriers
    • Agency Photo Gallery
    • Newsletter Signup
    • Blog
    • News
  • Resources
    • Forms
    • Eligible Expenses
    • Quick Links
    • Remote Upload
  • Contact
  • Login

ISG Benefits and Insurance Services Blog

CHILD CARE RESOURCES

6/29/2018

0 Comments

 
Picture
​Child Care for kids can cause financial stress for many families. It has happened to us all. The “sticker shock”, when you find out just how much child care will cost for your infant or toddler. Full or even part-time daycare can run upwards of a thousand dollars or more in some cases. For parents who have little choice, this can be a big financial strain. According to one recently conducted poll, over 70% of parents say family daycare represents a somewhat serious, to a very serious financial burden for their household.
Picture

​DEPENDENT CARE FSA’S ARE AN AMAZING CHILD CARE RESOURCE

​One way to combat the high cost of childcare is to take advantage of tax savings by enrolling in a Dependent Care FSA through your employer. Contributions to Dependent Care FSA’s are withheld from your paycheck before taxes. This saves the average person making $50,000 about 35% in total cost. If someone paid $5,000 in childcare costs, they would save an estimated $1,750 annually by contributing to a Dependent Care FSA.

Dependent Care FSA’s were initially created in 1981. They have been hamstrung by low funding limits and cumbersome funding rules and requirements. Because of this, participation in Dependent Care FSA’s remains very low, somewhere around 3%, according to Aon Hewitt, a large benefits consulting firm.

Insurance Savings Group (ISG) is taking a fresh look at Dependent Care FSA’s. We have revived this old plan with some new features.

​THE ISG DEPENDENT CARE FSA AND HOW IT DIFFERS FROM OTHER PLANS

  • ISG allows you to pay your annual dependent care expenses immediately starting the first day of the plan, saving you an additional 5% at participating preschool providers.
  • We allow you to take full advantage of monthly pre-tax payroll deductions which save you an average of 35% on income and payroll taxes.
  • The plan keeps things simple by using a debit card to pay for dependent care expenses.
​
A unique feature in ISG’s agreement allows our members to enjoy the simplicity of having to make only one payment. In the original plans (dependent care FSA’s through your employer), one comes from your payroll check and the other to your provider to get reimbursed.

ISG has also modified other older unimproved accounts such as Flexible Spending Accounts (FSA) and Health Reimbursement Arrangements (HRA). These accounts can help pay for out of pocket medical, dental, and vision expenses. Are you are having trouble paying for your families dependent care accounts? Or are having trouble covering out of pocket medical, dental, and vision expenses? Consider contacting ISG through our website to see if you could benefit from joining the savings group.
0 Comments



Leave a Reply.

    Contact Us

    Toll Free: 1-800-220-3304​
    Phone/Text: (661) 432-1474

    Sundale Ave. Office
    ​5901 Sundale Ave,
    Suite B.
    Bakersfield, CA 93309

    Patton Way Office
    4101 Patton Way,
    ​Bakersfield, CA 93308​
    Click Here to Email Us

    Archives

    March 2021
    August 2020
    January 2020
    December 2019
    November 2019
    October 2019
    August 2019
    September 2018
    August 2018
    June 2018

    Categories

    All
    Business Insurance
    Dental Insurance
    FAQs
    Financial
    Group Health Insurance
    Health Insurance
    Health Savings Account (HSA)
    Insurance
    Local
    Medicare Advantage Plans
    Safety

    RSS Feed

Navigation

Homepage
Insurance Quotes
Policy Service
Insurance Products
Contact Us 
Resources
​Agent Login

Connect With Us

Share This Page

Contact Us

Sundale Ave. Office
​(661) 432-1474​​
​5901 Sundale Ave,
Suite B.
Bakersfield, CA 93309
Patton Way Office
4101 Patton Way,
​Bakersfield, CA 93308
Review Us
2008-0621-Bakersfield-pan photo by Bobak Ha'Eri | CC-BY-SA-3.0​ | Website by InsuranceSplash