What is a Commuter benefit?
A Commuter benefit is a tax-advantaged account designed to cover eligible Parking and Transit expenses. Parking and Transit are managed as separate pre-tax accounts, with qualified expenses defined by the IRS.
Who is eligible?
If offered by your employer, you are eligible for this benefit. Family members’ expenses are not eligible.
What expenses are eligible?
Eligible Transit expenses:
- Public transportation, buses, trains, and ferries
Eligible Parking expenses:
- Parking garages, parking meters, parking lots
What expenses are ineligible?
- Tolls
- Fuel
- Mileage
- Taxis
- Traditional ride sharing (Uber, Lyft, etc)
How are Commuter benefits funded?
Commuter benefits are funded through payroll contributions made each pay period throughout the plan year.
What if my Parking or Transit expense exceeds my current balance?
You can only spend the funds currently available in your account. If you submit a claim exceeding your balance, you'll be reimbursed up to your available amount. The remaining balance will be reimbursed as additional contributions are added each pay period.
When can I change my contribution amount?
Commuter account holders can change their contribution amount at any time, as long as it doesn’t exceed the monthly IRS limit.
Do my Commuter funds expire?
Your Parking and Transit balances automatically roll over each month and only expire if you leave your employer.