Care-Share definition
Care-Share. Option: Employers can choose to add an extended MI Tri-Share program (“Care- Share”) for employees with household incomes above the 400% FPL MI Tri-Share income eligibility threshold. By choosing to offer this option, employers agree to a two-way split - and will continue to contribute one-third (33.33%) of the child care costs for each employee participating in the Care-Share program and collect the remaining two-thirds (66.67%) of the child care cost from each participating employee. The state of Michigan covers all associated administrative fees for this program, but does not contribute toward the care costs.
Examples of Care-Share in a sentence
Contribute at least one-third (33.33%) of the child care costs for each employee participating in the program and collect the additional one-third (33.33%) (or two-thirds {66.67%} for Care-Share) of the child care cost from each participating employee.
By choosing to offer this option, employers agree to - a two-way split - and will continue to contribute one-third (33.33%) of the child care costs for each employee participating in the Care-Share program and collect the remaining two-thirds (66.67%) of the child care costs from each participating employee.