WageWorks Commuter Benefits
If your employees take public transportation to work or pay for parking, WageWorks Commuter Benefits save them money by paying transit and parking expenses with pre-tax dollars. Your company lowers its payroll taxes, and employees take home extra money each month.
Our website provides helpful information to teach employees about the benefits of commuter pre-tax programs.
Employees will have access to key details that will help them determine if a Commuter account is right for them.
WageWorks Commuter Benefits are a great way to help your employees save money on their commute to work.
With WageWorks Commuter Benefits, employees can use tax-free funds to pay for parking and public transportation-such as train, subway, bus, ferry, trolley, or vanpool-as part of their daily commute to work. Funds are moved to the account before taxes are deducted, which reduces their overall tax burden. With WageWorks Commuter Benefits, employees can save an average of 30 percent off their commute.
A WageWorks Commuter Account can also save your company money. By transferring compensation from the employee's pay to a pre-tax account, you could reduce your payroll taxes by as much as 7.65 percent per participant. And this valuable benefit can help your company attract and retain quality employees.
WageWorks Commuter Benefits: The WageWorks Advantage
More Choices Mean Higher Enrollment
With a wide variety of transit and parking options available, WageWorks Commuter Benefits may increase the chances that more employees with enroll. There is nationwide coverage-in all 50 states and in more than 350 metro areas. Our commuter programs include a parking catalog with over 3,000 selectable locations and purchasable transit products from over 650 transit operators covering every major metropolitan area. The parking option supports subsidies at the corporate, regional, and employee level and accommodates even unique arrangements, including situations unique to you as an employer or to a particular office location. There is even a waiting list management feature for those locations where demand for spaces exceeds spaces available.
Easy and Convenient to Use
Your company can drive up enrollment by providing commuter benefits that are easy and convenient for employees to understand, access, and use. WageWorks make it quick and easy for your employees to pay for eligible transit and parking services. All these payment and reimbursement features are synchronized to deliver accurate, real-time account information:
Even Easier to Administer
While employees may appreciate pre-tax commuter benefits, they can be an administrative nightmare for benefits managers. WageWorks Commuter Benefits integrate with payroll management, tax compliance, and employee enrollment functions streamlining your efforts. They also lighten your compliance and administrative burden since we ensure compliance with the latest IRS regulations, including those related to pass and voucher distribution for you. You gain the benefit of avoiding the inconvenience of cash-based reimbursement programs. It’s a win-win.
If employees pay for parking for work - even if only a few days a week, WageWorks Commuter Benefits save them money by paying parking expenses with pre-tax dollars.
Funds are moved from paychecks to accounts before taxes are deducted. It’s a great way to put extra money in your employees' pocket each month.
With WageWorks Commuter Benefits, employees can: