FOR YOUR INFORMATION
HOW IT WORKS
This plan allows you to set aside pre-tax dollars each month to pay for transit and work-related parking expenses. You simply decide how much to contribute each month and that amount is moved from your paycheck into a Commuter account, before Federal and State income and FICA taxes are taken out.
From there, the money is there for you to use in a variety of ways - you can even set the program to automatically refill your order for transit or parking passes each month. Basically, you save money for commuter expenses you’re already paying for.
SIGN UP NOW
Visit www.takecarewageworks.com or call us directly at 1-800-950-0105 to sign up or learn more.
HOW MUCH CAN I CONTRIBUTE?
The contribution amount is up to you based on how much you currently spend and anticipated spending on commuting in the coming year. However, each year, the IRS establishes maximum pre-tax limits. For 2013, the amounts are as follows:
- Parking: $245 per month
- Transit: $245 per month
Note: 2014 limits will be announced before the end of 2013 which may change contribution limits for both parking and transit.
There's no "use it or lose it" policy with this program, so available balances can be rolled over year-to-year. However, if you stop working for your employer, you will lose access to the funds.
WHAT EXPENSES ARE COVERED?
The WageWorks Commuter program covers public transit costs incurred by you in connection with travel between your residence and your work place. Examples of eligible expenses include:
- Public transit fares, including tickets, passes, tokens, vouchers or other fares for riding buses, trains, ferries, subways or other public transportation
- Official vanpool fees
- Parking passes and payment at parking meters, parking garages, or other parking locations near your place of work or at a location from which you commute to work by public transit, vanpool or carpool
The program does not cover expenses related to tolls, traffic tickets, fuel, taxis, mileage, or payments to fellow participants in a carpool.
HOW DO I PAY FOR THEM?
We make it as easy as possible for you to use your commuter account, providing four, hassle-free payment options:
- take care WageWorks Card: Use instead of cash or debit/credit card to purchase transit passes, SmartCards and pay for parking, with funds deducted right from your Commuter account.
- Pay Me Back: Get reimbursed for parking expenses already paid.