Commuter Accounts
Administration
Help your employees save money coming and
going to work by offering commuter benefits!
Help your employees save money coming and
going to work by offering commuter benefits!
* Refer to www.basiconline.com/regulations to view monthly tax-free reimbursement maximum
Guaranteed compliance
Variety of plan options
Increased employee satisfaction
Participants choose a monthly election amount (up to the IRS maximum) to use pretax funds toward transit expenses. They use their BASIC Card to purchase transit fare, tokens, or vouchers at approved payment terminals. Unlike other pretax accounts, participants can change or stop their transit account election at any time.
Participants use pretax parking funds at eligible parking locations near the employer’s location or where the employee commutes via carpool, vanpool, or other commuter highway vehicle. They can use their BASIC Card for easy payment or pay out-of-pocket and submit a manual reimbursement. Like a Transit Plan employees can change the month elections each month as their needs change.
The Gas Plus Account is available as part of the BASIC’s CDA offering that makes it easy for employers to configure a plan design that works for their specific workforce needs. It’s 100% employer funded and can be used to reimburse gas and/or public transportation expenses. The employer (client) determines the frequency and amount of plan contributions, plan dates, carryover allowance, and employee eligibility rules.
A Bike Account allows employees to be reimbursed for bike expenses associated with their commute from home to work. Attract and retain employees, especially in an urban environment where biking to work is common. Commuter benefits for biking include a quick workout, parking problem solver, time saver, and environmentally-friendly mode of transportation.
Most commuter benefit plans are part of the IRS Section 132. Commuter Accounts (like parking and transit) are an employer-sponsored benefit that allows employees to set aside money on a pretax basis for qualified transit/commuter passes, parking, vanpooling, and commuter highway vehicles.
The IRS regulates what services or purchases are eligible under Section 132. Commuter benefits have a maximum contribution limit under Section 132. The IRS sets maximum monthly limits for both parking and transit. Current IRS limits can be found at our Regulations Page.
Mandatory Commuter Benefits Ordinances:
Give your employees the ability to leverage pretax savings, request a Commuter Accounts proposal today!
A cutting edge integrated system allowing employers and participants to manage all their benefit plans and benefit continuation (COBRA) accounts with one card, one website, and one mobile app.