What are transportation benefits?
Transportation benefits are IRS-approved “qualified transportation fringe” benefit plan, providing special, tax-free transportation benefits covering parking, transit and vanpooling.
How does CommuteEase work?
CommuteEase consists of four accounts: Transit (includes Vanpooling), Parking, Parking – Cash Reimbursement, and Parking – Employer Provided. Please consult your My Company Plan for the accounts available under your company’s plan design.
Participants set aside money from their paychecks to pay for certain transportation expenses such as parking, transit and vanpooling before taxes are taken from their pay. When the tax savings are applied to their transportation expenses, participants pay less.
The Transit Account payment options may include Passes, Commuter Check Vouchers or the Commuter Check Prepaid Mastercard.
Please see My Company Plan for specific payment options. You do not need to submit receipts, but you should retain receipts for your tax records.
The Parking Account allows participants to pay for Qualified Parking, expenses they incur to park at or near their regular place of employment, or expenses they incur to park at a location from which they commute to work by carpool, Commuter Highway Vehicle (Vanpool) or mass transit.
For example, Qualified Parking Expenses include expenses for parking at the Park-n-Ride lot at the train station in the suburbs so participants may take the train into the city for work.
Please see My Company Plan for specific payment options offered by your employer.
Parking – Cash Reimbursement Account
The Parking – Cash Reimbursement Account allows participants to be reimbursed for Qualified Parking Expenses upon completing a reimbursement request. Receipts may be required. Please consult My Company Plan. If receipts are required participants must submit a receipt providing the parking provider’s name, the date or dates and the amount of the expense.
Parking – Employer Provided Account
The Parking – Employer Provided Account allows participants to pay for Qualified Parking Expenses directly to the employer through payroll deductions for parking provided by the employer.
The Commuter Check Prepaid Mastercard may only be used for qualified commuter benefit purchases in accordance with IRS Tax Code 132(f). No cash or ATM access. This card may not be used everywhere Debit Mastercard is accepted.
The Commuter Check Prepaid Mastercard is issued by The Bancorp Bank pursuant to license by Mastercard International Incorporated. The Bancorp Bank; Member FDIC. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.