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Fewer than half of parents take advantage of this money-saving tax break

Parents could save more than $2,000 a year on child care costs, but more than half leave the money on the table.

While most parents (67%) know they could save on child-care costs with a tax break called the dependent care flexible spending account, only 44% actually use one, according to a survey of 1,100 parents by Care.com, an online referral service that matches families with caregivers. “It’s a big missed opportunity that we want to shed some light on,” said Kerri Swope, vice president of Care.com HomePay, which provides household payroll services.

Flexible spending accounts (FSAs) are offered as part of an employee benefits package at many companies.

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