From 1990 to 2005 the number of companies that offer adoption benefits has risen
from 12% to 41 % per statistics gathered from information compiled by Hewitt
Associates LLC. - a human resource consulting firm in Lincolnshire, Illinois. The demand for this benefit has risen over the years, partially, because it is
inexpensive to add these benefits to the employer’s bottom line. Only 1% of all
employees that can use adoption benefits do so; this in turn allows employers to
offer the benefit in a cost effective manner. Remember adoption benefits are
not required by law, organizations offer benefits voluntarily as an added
incentive to draw employees to their workplace.
Most employers that incorporate adoption benefits into their packages make them
available to both full time and part time employees eligible for company
benefits either upon hiring or within 1 year of their hiring date.
International adoptions are covered.
Employer
adoption benefits include: financial
reimbursement, HSA/Flexible spending
plan, employee leave (paid and unpaid) and
employee assistance programs.
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Embrace A Child - Ukrainian Adoptions LLC. strives to streamline the adoption process by making it as a predictable,
comfortable, and as stress-free as possible.
Let us help you
begin your journey of completing your family.
Thank you for visiting our web site.
Roman Kwit, Adoption Facilitator Specialist
(office) 330-659-2123
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Covers
the cost of home studies, attorneys, court proceedings, agency costs,
facilitator costs, counseling, medical expenses not covered under your insurance
plan, transportation, accommodations, and immigration paperwork expenses,
immunization, translation and legal fees (prepaid legal services).
Employers may reimburse the employee for expenses incurred. Depending on the
company, the reimbursement may range from be as little as $1,000 up to $20,000
given back completely or as reimbursement for all expenses. The average
reimbursement is about $3,000 to $5,000.
Employer adoption benefits, if used for paying off expenses, can be used as an
exclusion from your income. The maximum amount that you can exclude is
$10.630. Any amount that is over $10,630 is taxable. You can claim both the
Tax Credit up to $10,630 per adoption attempt and the Tax Exclusion up to
$10,630. Remember that you cannot claim the same expense on both. Only
separate and distinct expenses may be applied to the Tax Credit or the Tax
Exclusion.
Please make sure that you have itemized receipts for all of your expenses.
Adoption reimbursements are typically not subject to Federal Income Tax. At all times, please check with an accountant or contact the IRS for further
information regarding qualified adoption expenses and employers taxes regarding
fringe benefits.
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Paid Leave
The
employer continues to pay the employee either a percentage of the employee’s
salary or the full salary. Depending on the company, paid leave can range
anywhere from 1-20 weeks. The average is about 3 weeks.
Unpaid Leave
The
employee receives no salary but still continues to receive benefits and retains
his/her position upon return. Unpaid leave can range from 1 week to 1
year.
Both leaves depending on their duration will be applied to the 12 week leave
that is allowed under the Family Medical Leave Act (FMLA) and the time may be
used for both pre and post adoption. Additional leave granted by the employer
usually will allow the continuation of benefits for the employee.
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Employee Assistance Programs
These programs offer counseling to employees about adoptions. They can
also offer mentoring and buddy programs where an employee that has adopted from
the country that you are interested in can provide you with help or guidance.
Some companies also have libraries that have resources that can help you with
information on the adoption process. Some companies may have child care
centers that help you with the transition of getting a child.
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NOTE:
Some of the information that has been given above is associated with the Dave
Thomas Foundation that has dedicated resources to helping companies implement
adoption benefits. A helpful webpage is
www.adoptionfriendlyworkplace.org.
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