PPE is FSA Eligible; HSAs and Some HRAs Also Affected
April 6, 2021
Transit Reimbursement
What is it?
A pre-tax transit benefit allows you to deduct the cost of work-related transit expenses from your paycheck before taxes.
How does it benefit you?
When you enroll in a transit account, you can save up to 40% of the amount contributed on your taxes. For example, if you contribute $1,000 to the account annually, you could save up to $400 on federal taxes.
Manage Your Account Online
Create your online account so you can check your account balance or order a Benefits Card. Download our mobile app to conveniently access your account anytime, anywhere. You can also manage your account when you log into your account from any of your mobile devices.
Download P&A’s Mobile App
Benefits Card Order Form
pdf
(74.3kB)
Contribute
As a pre-tax transit account holder, you can only be reimbursed up to the amount you’ve accumulated in your account — a pay-as-you-go approach.
Deciding How Much to Contribute
Determine your monthly transit costs and set aside the total amount into your transit account.
Contribution Amount
You can contribute a monthly maximum of $270. This amount is indexed annually by the IRS and is subject to change. Unlike other pre-tax accounts, you can change your election amount monthly as needed. To change your monthly contribution, please see your HR or Benefits Department.
Eligible Expenses
Use this account to pay for any work-related commuter transit costs, including:
- Bus fare
- Ride sharing services like uberPOOL, Lyft Line, Via
- Train/subway fare
- Vanpooling
Get Reimbursed
Use your P&A Benefits Card to purchase eligible transit expenses. When you swipe your card, the expense is automatically deducted from your transit account – up to the amount available. You cannot debit more funds than what is currently available in your account.
Due to an IRS rule, transit claims are no longer accepted. You must use your Benefits Card in order to access your transit account.
Manage Your Account Online
Create your online account so you can check your account balance or order a Benefits Card. Download our mobile app to conveniently access your account anytime, anywhere. You can also manage your account when you log into your account from any of your mobile devices.
Download P&A’s Mobile App
Benefits Card Order Form
pdf
(74.3kB)
Contribute
As a pre-tax transit account holder, you can only be reimbursed up to the amount you’ve accumulated in your account — a pay-as-you-go approach.
Deciding How Much to Contribute
Determine your monthly transit costs and set aside the total amount into your transit account.
Contribution Amount
You can contribute a monthly maximum of $270. This amount is indexed annually by the IRS and is subject to change. Unlike other pre-tax accounts, you can change your election amount monthly as needed. To change your monthly contribution, please see your HR or Benefits Department.
Eligible Expenses
Use this account to pay for any work-related commuter transit costs, including:
- Bus fare
- Ride sharing services like uberPOOL, Lyft Line, Via
- Train/subway fare
- Vanpooling
Get Reimbursed
Use your P&A Benefits Card to purchase eligible transit expenses. When you swipe your card, the expense is automatically deducted from your transit account – up to the amount available. You cannot debit more funds than what is currently available in your account.
Due to an IRS rule, transit claims are no longer accepted. You must use your Benefits Card in order to access your transit account.
FAQs
Due to IRS regulations, if you cease to work for your employer unused transit funds will be forfeited.
You will forfeit all unused funds. To avoid losing money, make sure you only contribute what you anticipate you will use. Please see your HR/Benefits Department if you need to adjust your monthly contribution amount.
Unfortunately, transit claims are no longer accepted under IRS regulations. You must use your Benefits Card for all transit expenses.