Our Commuter Benefit programs offer employees an easy, efficient, compliant way to reduce the cost of getting to work 25 to 40%. In addition, employers also realize a savings equal to 7.65% of employee contribution.
ABA offers two different kinds of Commuter Benefit accounts, Transit and Parking Accounts, and gives members the opportunity to purchase their transit passes or vouchers online, use their American Benefit Administrators’ debit card for eligible expenses, or even have ABA pay their transit or parking provider directly.
Transit Benefits
Transit Benefits, with American Benefit Administrators, are a tax-favored program (Internal Revenue Code Section 132) that allows employees to set aside pre-tax money from their paychecks to pay for eligible transportation up to $265 per month (for plan years beginning in 2019). They are similar to the Dependent Day Care Reimbursement Account in that only the amount that has been deducted to date can be reimbursed to participants.
ELIGIBLE EXPENSES INCLUDE:
- Mass transportation (such as via subway or bus) to your place of employment
- Transportation to your place of employment via a vanpooling commuter vehicle. (Restrictions: Must seat at least six adults not including the driver. At least 80% of the vehicle’s mileage must be used to transport employees to and from their place of employment.)
Parking Benefits
Parking Benefits with American Benefit Administrators are a tax-favored program (Internal Revenue Code Section 132) that allows employees to set aside pre-tax money from their paychecks to pay for eligible parking expenses, up to $265 per month (for Plans beginning in 2019). They are similar to the Dependent Day Care Reimbursement Account in that only the amount that has been deducted to date can be reimbursed to participants.
ELIGIBLE EXPENSES INCLUDE:
- Parking near your place of employment
- Parking at or near a location from which you commute to work via mass transit or vanpool
If you would like to explore our services and what we can offer contact us today at sales@americanbenefitadministrators.com.
