The Loyola University Maryland child care voucher program is available to benefits-eligible employees (full-time, core, and half time) and faculty (full-time and four-fifths-time) who have child care costs directly related to the employee’s work schedule. Additionally, the employee’s spouse (if applicable) must be employed, looking for work, enrolled in school full-time, or have a documented disability that prevents full-time parenting. Newly hired employees can begin participation the month following (after) their date of hire.
For new participants, they must submit a completed application along with a copy of their most recent Form 1040 and copy of the daycare license. Please refer to the Program Guidelines located under the Enrollment Resources section below.
The CCVP benefit plan year runs from July 1st through June 30th. All participants must submit a new Program Application on or before July 1st. If there is a change to their child care/daycare provider, a new application must be submitted with a copy of the new provider's license. The monthly reimbursement process is outlined in the Program Guidelines located in the Enrollment Resources section below. In the case of two Loyola employees who are parents to the same child, reimbursements will be given to one employee on behalf of the family.
The Internal Revenue Service determines the maximum allowance for dependent care assistance programs sponsored by employers. If you participate in both the Dependent Care FSA and the Child Care Voucher Program, coordinate your Dependent Care FSA annual election with your total calendar year anticipated Child Care Voucher reimbursement amount to ensure you do not exceed the $5,000 calendar year maximum allowance. If the combined total of the Dependent Care FSA annual election and Child Care Voucher reimbursements for the calendar year reaches the $5,000 maximum before the end of the year any additional Child Care Voucher reimbursements will be treated as taxable income. Generally, it is not permissible to reduce the Dependent Care FSA annual election in the middle of the plan year without a qualified change-in-status event. Coordination with Child Care Voucher reimbursements or a change in tax treatment are not qualified change-in-status events.