West Virginia Tri-Share Child Care Program for Employers
Affordable, reliable child care can make a major difference for working families and the employers who depend on them. West Virginia’s Tri-Share Child Care Program gives employers a new way to help employees manage child care expenses while strengthening their overall employee benefits package.
After a successful pilot program in eight West Virginia counties, Tri-Share is expanding statewide. The program shares eligible child care costs among the employee, employer, and State of West Virginia, making child care more affordable for working parents while giving employers a valuable tool for recruiting and retaining employees.
At Mark E. Snapp & Associates, SNAPP Benefits, we help West Virginia employers understand benefit options that can help them attract, retain, and reward the employees who drive their businesses. Contact us to learn more about West Virginia Tri-Share and how it may fit into your employee benefits strategy. today to learn more about this unique program.
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How Does West Virginia Tri-Share Work?
West Virginia Tri-Share is designed to make child care assistance easier and more flexible for employers.
An employer chooses how much it would like to contribute toward an employee’s child care costs. The State can then match the employer’s contribution dollar-for-dollar, up to 100% of the employer contribution. Employees are responsible for the remaining eligible child care cost.
Unlike the original pilot model, employers do not have to commit to a specific one-third share of the cost. Employers can choose a contribution that works within their budget while still providing meaningful assistance to employees.
This flexibility can make Tri-Share an option for businesses of different sizes and benefit budgets throughout West Virginia.
Why Employers Are Choosing Tri-Share Model
Child care benefits can provide value beyond helping employees pay for care. They can also help address one of the challenges working parents face when entering or remaining in the workforce.
According to information provided by Wonderschool, more than 80% of employers offering child care benefits report improvements in employee recruitment, retention, and productivity.
West Virginia Tri-Share offers several advantages for participating employers:
- No Minimum Employer Contribution
There is no minimum contribution amount required. Employers can determine a contribution that makes sense for their organization and budget.
- State Matching Funds
The State can match the employer’s contribution dollar-for-dollar, up to 100%, helping an employer’s contribution provide greater value to participating employees. - No Administrative Fees
There are no administrative fees charged to employers for participating in the program, so 100% of the employer’s contribution goes toward employees’ child care costs.
- Choose How Many Employees Participate
An employer can participate for a single qualifying employee or make the program available more broadly throughout its workforce. The employer controls the scale of participation. - Any Licensed Child Care Provider
Participating families can use program funds with any licensed child care provider. Employees are not limited to a pre-selected provider list. - Potential Federal Tax Benefits
Employer contributions to child care benefits may qualify for a federal tax credit. Employers should consult with their tax professional regarding their individual circumstances and eligibility.
Child Care Benefits Can Help Attract and Retain Employees
For many working parents, child care is not simply a household expense. Access to affordable care can affect whether a parent can return to work, maintain a full-time schedule, or accept a new employment opportunity.
That makes child care assistance increasingly relevant to employers competing for qualified workers.
Adding a benefit such as Tri-Share may help employers:
- Recruit working parents and other qualified candidates
- Retain valued employees who are balancing work and family responsibilities
- Support employee attendance and productivity
- Differentiate their employee benefits package
- Demonstrate an investment in employees and their families
- Help employees reduce one of their significant household expenses
For employers, Tri-Share can provide an opportunity to add a meaningful benefit without taking on the entire cost of child care assistance.
Tri-Share Is Now Available Statewide in West Virginia
West Virginia’s Tri-Share program began as a pilot serving eight counties: Boone, Jackson, Kanawha, Lincoln, Mason, Putnam, Roane and Wirt Counties.
Following that pilot, the program is expanding statewide, making Tri-Share available to employers and eligible employees throughout West Virginia.
This means businesses outside of the original pilot counties now have an opportunity to explore Tri-Share as part of their employee benefits offering.
Whether your business is located in Charleston, Huntington, Parkersburg, Morgantown, Beckley, or another West Virginia community, contact SNAPP Benefits to learn more about the program.
A Flexible Benefit for West Virginia Businesses
One of the advantages of Tri-Share is that an employer does not have to redesign its entire employee benefits program to participate.
Employers determine the level of financial commitment and the number of employees for whom they want to provide the benefit. That flexibility can make child care assistance accessible to employers that may not have previously considered offering a child care benefit.
Tri-Share can complement other employee benefits such as:
- Group health insurance
- Group dental and vision insurance
- Life and disability insurance
- Health reimbursement arrangements
- Health savings accounts
- Section 125 Premium Only Plans
- Other employer-sponsored benefits
SNAPP Benefits has helped employers develop employee benefits programs for more than 30 years, with a focus on helping businesses attract, retain, and reward key employees. That is also the positioning SNAPP uses throughout its current website.
Snapp BenefitsFrequently Asked Questions About West Virginia Tri-Share
Learn More About West Virginia Tri-Share
Offering assistance with child care can be a meaningful way to strengthen your employee benefits package while helping employees manage the cost of care.
With statewide availability, flexible employer contribution levels, State matching funds, and no administrative fees, West Virginia Tri-Share gives businesses another option for supporting employees and their families.
Mark E. Snapp & Associates, SNAPP Benefits, can help employers learn more about Tri-Share and determine how it may complement their existing employee benefits.
Contact SNAPP Benefits today to learn more about the West Virginia Tri-Share Child Care Program.
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