WageWorks Commuter Accounts — Driving Down the Cost of Living
WageWorks' Commuter benefit programs give working people and families a way to lower the cost of living by reducing the cost of getting to work. With WageWorks Commuter benefits, an employee can save up to 40 percent off their commute, regardless of how they get to work. And by transferring compensation from the employee's pay to a pre-tax Commuter account, you can reduce your payroll taxes by as much as 5.65 percent per participant.
Simple to use, and even easier to administer, WageWorks' Commuter programs work better and smarter for both you and your participants. Here's how:
- Choice of transit and parking options with the widest selection of providers nationwide.
- Convenience throughout the entire experience, from initial enrollment and free home pass delivery to exceptional customer and client service.
- Compliance with the latest IRS regulations, including important IRS requirements relating to pass and voucher distribution.
Why WageWorks' Commuter Benefits?
While pre-tax commuter benefits like parking, transit and vanpool arrangements are greatly appreciated by nearly all employees, they can be an administrative nightmare for benefits managers. WageWorks reduces the compliance and administrative burden for employers and enables employees to avoid the inconvenience of cash-based reimbursement programs. In contrast, WageWorks offers automatic mailing of transit passes and vouchers, electronic options such as Smartcards and debit cards, and scheduled payments to parking facilities, with funds automatically deducted from paychecks. WageWorks commuter benefits can also successfully integrate with payroll management, tax compliance, and employee enrollment functions.
WageWorks' Commuter Benefits Solution Offers:
The largest transit catalog
- Covers 350,000 options – 98% of all possible transit ridership
- Includes all 50 states in 350+ metro areas
- Order online or by phone, no transit checks or vouchers required
Choices for virtually any commute
- Bus, light rail, regional rail, streetcar, vanpool, trolley, subway, and ferry
- Free home delivery of passes and tickets
- Leading-edge SmartCards: participants choose the dollar value, number of rides or time period; WageWorks loads value automatically
The most advanced parking management
- Flexible parking platform accommodates virtually every unique arrangement including situations unique to you as an employer or to a particular office location.
- Supports subsidies at the corporate, regional, and employee level
- Waiting list management features for those locations where demand for spaces exceeds spaces available.
By leveraging WageWorks' commuter options, employers can provide an added, valuable benefit to help attract and retain quality employees.