WageWorks® Commuter is a pre-tax benefit account used to pay for public transit—including train, subway, bus, ferry, and eligible vanpool—and qualified parking as part of your daily commute to work.
Why You Need It
How It Works
Simply decide how much to contribute up to the allowed monthly limit. Funds are withdrawn from your paycheck for deposit to your account before taxes are deducted. Pause or cancel contributions to your account at any time. There’s no “use it or lose it” as long as you’re employed by your current employer.
How You Manage It
Use a variety of convenient payment methods associated with your account. Have monthly transit passes or tickets mailed directly to your home, load funds onto your smart card, or purchase tickets with the WageWorks® Commuter Card. For parking, use the WageWorks commuter Card to pay your parking provider directly, or get reimbursed for eligible expenses you pay out of pocket.
Manage your account via a secure website on any computer or mobile device that’s connected to the Internet or via the WageWorks EZ Receipts® app.
Contribute up to a maximum of $255 per month for transit and eligible vanpools and $255 per month for qualified parking.
How You Get It
Ready to save? You can sign up for WageWorks Commuter any time—there’s no need to wait for the next Open Enrollment period. Contact the person or organization managing your benefits enrollment and start saving today!
Savings With Your Commuter Account
A Commuter Transit Account is a monthly account lets you pay for qualified expenses on a pre-tax basis. Simply decide how much to contribute to your Commuter Transit Account up to the allowed monthly limit. The IRS sets the contribution limits. You can contribute up to a maximum of $255 per month* to your Commuter Transit Account. A different limit may apply to you according to your employer’s plan.
|Your Estimated Tax Savings|
|Without Commuter Benefits||With Commuter Benefits|
|Gross annual pay||$60,000||Gross annual pay||$60,000|
|Tax rate (30%)||-$18,000||Max. annual Commuter
|Net annual pay||=$42,000||Adjusted gross pay||=$56,940|
|Annual commuting expenses||-$3,060||Tax rate (30%)||-$17,082|
|Final take-home pay||=$38,940||Final take-home pay||=$39,858|
Take home this much more with a Commuter Benefits Account $918
All figures in this talble are estimates and based on an annual salary of $60,000 and maximum contribution limits to the benefit account. Your salary, tax rate, commuter expenses, and tax savings may be different.
Use this calculator to see how much you can save with a Commuter Account.