Commuter Benefits can help your employees control their transit and/or parking expenses while saving money. If your employees commute to work via bus, light rail, streetcar, vanpool, trolley, subway or ferry, or have to pay for parking, you may offer Commuter Benefits. It works by employees setting aside money in their account before paying taxes on it.
Maximum Elections in 2018
Up to $260 per month for Qualified Transit Expense
Up to $260 per month for Qualified Parking Expense
Qualified Transit and Qualified Parking expenses may be combined.
How Does It Work?
Participating in a Surency Flex Commuter Benefits plan is easy.
Once your employees have enrolled and set their election amount, that amount will be automatically deducted from paychecks throughout the year before paying federal, state and FICA taxes on the designated amount.
When an employee is ready to use the money in his/her Commuter Benefits account for a qualified transit and/or expense, they just swipe their Surency Flex Benefits Card when purchasing fare cards or parking.
To avoid losing any money, employees must file claims within 180 days of incurring the expense.
We understand your employees may be hesitant to set aside funds pre-tax to use at a later date for approved expenses. We’ve mapped out every aspect of the consumer experience down to the smallest detail to ensure your employees understand the benefit — guaranteeing a positive experience for both employees and employer.
Interested in offering your employees Commuter Benefits?
Fill out the form below to get started. A Surency team member will reach out to help you with your custom Surency Flex solution.