A Parking/Transit Reimbursement Account is beneficial for anyone who commutes to work! You will save money on what you’d normally spend on transit or parking, up to the maximum pre-tax benefit.
An employee decides whether or not they want to participate in a Transit/Parking reimbursement account(s). Once they’ve made that decision, they estimate eligible expenses they are likely to have during the year and decide how much of their salary they want to set aside. The amount they elect will be automatically deducted from their paychecks during the year and credited to their account. Simply use your benefit card to pay for expenses, or you may be reimbursed for your parking expenses, with tax-free money. Note: reimbursements for transit accounts are not allowable under IRS guidelines.