You may contribute to your account up to $255 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.
The pre-tax contribution limit is $255 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 a Add Funds button. Simply click the button and follow the prompts.
There are three ways to use your Commuter Parking Account to pay for eligible parking expenses:
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.
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.
Your Commuter Parking Account does not cover these expenses:
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.