Commuter, transit, and parking FSA
The Transportation Equity Act makes it possible for employees to use pre-tax dollars to pay for qualified work-related commuting and parking expenses. This represents a significant tax savings of up to 40 percent!
AdvanStaff HR takes on the administrative burden of offering transit and parking benefits plans. We manage all aspects of administration, including seamless implementation, accurate ongoing administration, and dependable compliance. And all participants receive an innovative TASC Card to pay eligible expenses.
Eligible Expenses for Transit and Parking Accounts (all expenses must be work-related):
- Public Transportation expenses (mass transit, bus, train, ferry, subway)
- Ride Sharing Services (UberPOOL, Lyft Line, van pools) – cannot be used for regular Lyft or Uber rides
- Work-Related Parking: Park n’ ride, parking ramps, parking meters
Once you have contributed money into your Parking and/or Transit Account, you can use it to pay for parking and mass transit eligible expenses related to commuting to work tax free.
Enrolling in this flex spending account (FSA) is simple. Employees are giving the opportunity 1X per year to enroll. FSA open enrollment is held on the calendar year.