Parking Benefits
WageWorks Parking Benefits Drive Down the Cost of Living
WageWorks’ Parking Benefits give working people and families a way to lower the cost of living by reducing the cost of getting to work. With a WageWorks Parking Commuter account, an employee can save up to 40 percent off f their commute. 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 7.5 percent per participant.
Simple to use, and even easier to administer, WageWorks’ Parking programs work better and smarter for both you and your participants. Here’s how:
- Choice of parking options with the widest selection of providers nationwide.
- Convenience throughout the entire experience, from initial enrollment and direct provider payment to exceptional customer and client service.
- Compliance with the latest IRS regulations.
Why WageWorks’ Parking Benefits?
While pre-tax commuter benefits 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 a card-based account system, as well as scheduled payments to parking facilities, with funds automatically deducted from paychecks. WageWorks’ Parking benefits can also successfully integrate with payroll management, tax compliance, and employee enrollment functions.
WageWorks’ Parking Benefits Solution:
- Features a flexible parking platform that accommodates virtually every unique arrangement including customized infrastructures
- Supports subsidies at the corporate, regional and employee level
- Includes an automated waiting list that manages parking demand and available spaces
By leveraging WageWorks’ commuter options, employers can provide an added, valuable benefit to help attract and retain quality employees.
