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Parking
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What is a Commuter Parking Account?
A Commuter Parking Account is a pre-tax benefit account used to pay for parking as part of your daily commute to work, including parking at or near your place of work or at a location near where you take public transportation to get to work. It’s a great way to put extra money in your pocket each month and make your commute more convenient and affordable.
You may contribute to your account up to $270 per month on a pre-tax basis to pay for parking expenses, which means you end up paying less in taxes and taking home more of your paycheck. Plus, you can opt to have your parking provider paid directly taking one item off your to do list.
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How much can I contribute to my Commuter Parking Account each month?
The pre-tax contribution limit is $270 per month. Please keep in mind that this limit is set by the IRS and can change each year. Depending on the type of Commuter Parking Account your employer has set up, your employer may take post-tax deductions, or you also may be able to add post-tax dollars to your account using your personal credit card if your order exceeds the pre-tax balance in your account.
Log into your WageWorks account and check your Dashboard. If your Commuter Parking Account allows you to add post-tax dollars to your account, you will see an 'Add Funds' button. Simply click the button and follow the prompts.
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How do I use my Commuter Parking Account?
There are three ways to use your Commuter Parking Account to pay for eligible parking expenses:
- Pay My Provider. You can arrange for your parking provider to be paid directly from your account.
- Pay Me Back. You can have funds deposited directly into your bank account or a check mailed to reimburse you for eligible parking expenses you've already paid.
- Pay By Prepaid Card. Depending on your employer’s plan, you may use the convenient WageWorks Commuter Parking Card to pay for eligible parking expenses directly from your account.
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How do I enroll in a Commuter Parking Account?
You can enroll at any time—there’s no need to wait for the next Open Enrollment period. Register here for a WageWorks account. Once you're logged in to your WageWorks account, simply click the "Place Your Order" button under Commuter Account and sign up immediately.
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When can I enroll in, change, or cancel my enrollment in my Commuter Parking Account?
At any time! But keep in mind that there is a deadline for when your order should be placed/changed/cancelled. Often the deadline is the 10th of the month prior to when you want to use the benefit. However, some plans have different deadlines. Be sure to log into your WageWorks account to find out your deadlines for changing or canceling orders.
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How do I place a commuter parking order?
It's easy! Log into your WageWorks account and click the Place Your Order button under Commuter Parking Account.
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Can I pay for park-and-ride and transit separately?
Yes! Per IRS regulations, you can use up to $265 per month pre-tax for qualified parking expenses, such as those for park-and-ride, and you can use up to $265 per month pre-tax for qualified transit expenses. All you have to do is sign up for both a Commuter Parking Account and a Commuter Transit Account, and you can save up $530 pre-tax per month on eligible commuting expenses.
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Why haven’t funds been loaded to my Commuter Parking Card?
Here’s what you can do. Log into your WageWorks account to confirm you elected to contribute to your Commuter Parking Account for the time period you expected your card to be loaded. The monthly election should be available on your card by the first day of the benefit month. Please note that the maximum pretax amount you may have loaded on your card or spend is $265 per month for 2019.
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What happens to the money in my Commuter Parking Account and on my Commuter Parking Card when I leave my employer?
If you leave your employer, any recurring order will be canceled on your termination date or when WageWorks learns of your termination date from your employer, whichever date is later.
Any remaining pre-tax funds are forfeited back to your employer. However, you will be reimbursed for any remaining post-tax funds.
If you think a change may be coming, please log into your WageWorks account and update your elections appropriately.
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What happens to the money in my Commuter Parking Account when I leave my employer?
If you leave your employer, any recurring order will be canceled on your termination date or when WageWorks learns of your termination date from your employer, whichever one is later. Unfortunately, you will forfeit any remaining pre-tax funds back to your employer. However, you will be reimbursed for any remaining post-tax funds. If you think a change may be coming, please log into your account and update your elections appropriately.
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What happens to the money in my Commuter Parking Account when I leave my employer and I have a Pay Me Back claim pending?
If you have a Pay Me Back claim that has not yet been reimbursed, you have up to 180 days from the last day of the benefit month to submit your request for reimbursement.
Please note that the expense must have been incurred while you were still employed. Unclaimed funds are forfeited back to your employer at the end of the 180-day period.
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What kind of expenses are not covered by my Commuter Parking Account?
Your Commuter Parking Account does not cover these expenses:
- Fuel, mileage, or other expense costs you incur in operating or maintaining a vehicle
- Payments to a fellow carpool participant or to a friend who drives you to work
- Parking at your personal residence
- Parking at your spouse's place of work
- Parking at a mall or similar location where you stop on your drive to or from your place of work
- Parking expenses that have been or will be paid by your employer, such as for a business trip
- Parking at an airport for taking an airplane to work
- Taxis
- Tolls
- Traffic tickets
Please keep in mind that the IRS determines which expenses are eligible for reimbursement—not WageWorks. Looking for a particular type of expense? Please check the list of eligible expenses or log into your WageWorks account for a comprehensive list of eligible expenses under your Commuter Parking Account.
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How long do I have to submit a claim for reimbursement for my Parking Pay Me Back election?
You must submit your claim for reimbursement within 180 days from the last day of the benefit month. So if you elected a Pay Me Back election for the month of March, you will have until the end of September to file a claim.
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What happens if I do not submit a claim for my Parking reimbursement within 180 days?
Funds that are not claimed within 180 days are turned into a credit and used to reduce the pre-tax portion of future elections while you are an active employee. Under IRS regulations, reimbursed expenses “must be substantiated within a reasonable amount of time. An expense substantiated… within 180 days after it has been paid will be treated as having been substantiated within a reasonable amount of time.”